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HONG KONG: Growth Revised Down.

HONG KONG
GlobalEM BulletHong KongBulletAPACEmerging Market NewsRegion
  • Hong Kong’s third quarter YoY growth release on Friday evening was in line with expectations at +1.8%, in line with the previous quarter’s result.
  • The month-on-month figure saw a contraction of -1.1%.
  • Following the release Hong Kong revised down the forecast for full year 2024 to 2.5%, down from 2023’s expansion of 3.3%.
  • Like the mainland, Hong Kong has struggled given a property downturn that has sapped consumer confidence.
  • Tourism numbers from the mainland are down, a further blow for the city’s businesses.
  • According to government forecasts, headline inflation is set to decline to +1.7%.
  • In October Hong Kong’s Chief Executive John Lee announced stimulus measures to support growth including the loosening of mortgage rules and cutting tax on alcohol. 
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  • Hong Kong’s third quarter YoY growth release on Friday evening was in line with expectations at +1.8%, in line with the previous quarter’s result.
  • The month-on-month figure saw a contraction of -1.1%.
  • Following the release Hong Kong revised down the forecast for full year 2024 to 2.5%, down from 2023’s expansion of 3.3%.
  • Like the mainland, Hong Kong has struggled given a property downturn that has sapped consumer confidence.
  • Tourism numbers from the mainland are down, a further blow for the city’s businesses.
  • According to government forecasts, headline inflation is set to decline to +1.7%.
  • In October Hong Kong’s Chief Executive John Lee announced stimulus measures to support growth including the loosening of mortgage rules and cutting tax on alcohol.