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HONG KONG:  GDP Growth at Weakest Levels in over a Year. 

HONG KONG
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  • Hong Kong’s GDP output moderated in the third quarter to expand by just +1.8%, following the revised +3.2% for the second quarter.
  • With the seasonally adjusted number QoQ turning negative, this print showed that private consumption continues to be of concern, falling rapidly.
  • Exports have been soft for Hong Kong, yet these figures are for the period prior to new policy measured announced and China’s stimulus.
  • At the heart of Hong Kong’s challenges remains it’s property sector which has been in a serious decline, dragging with it consumer sentiment with retail sales declining for the last six months. 
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  • Hong Kong’s GDP output moderated in the third quarter to expand by just +1.8%, following the revised +3.2% for the second quarter.
  • With the seasonally adjusted number QoQ turning negative, this print showed that private consumption continues to be of concern, falling rapidly.
  • Exports have been soft for Hong Kong, yet these figures are for the period prior to new policy measured announced and China’s stimulus.
  • At the heart of Hong Kong’s challenges remains it’s property sector which has been in a serious decline, dragging with it consumer sentiment with retail sales declining for the last six months.