Hong Kong Economy Slows in Q4

Hong Kong GDP advanced 2.2 percent year-on-year in the fourth quarter of 2014, compared to a 2.7 percent expansion from July to September as a rebound in investment was unable to offset a slowdown in private and government consumption and lower exports.

Year-on-year, private consumption expenditure grew 3.8 percent, compared with a 4.1 percent growth in the third quarter. Government consumption increased by 3.3 percent, compared with a 3.7 percent expansion reported in the previous period.

Gross domestic fixed capital formation increased by 4.0 percent after a 3.3 percent contraction in the previous quarter. Expenditure on machinery, equipment and intellectual property products increased by 1.2 percent compared with a 11.9 percent decrease in the third quarter.  Expenditure on building and construction rose by 7.1 percent, compared with the increase of 5.0 percent in the third quarter.

Total exports of goods increased by 0.6 percent, compared with a growth of 1.0 percent in the third quarter. Imports rose by 1.2 percent compared with the 0.5 percent growth in the previous quarter.

On a seasonally adjusted quarter-to-quarter basis, the GDP increased by 0.4 percent.

Considering full year of 2014, the economy grew 2.3 percent following a 2.9 percent expansion in the preceding year. Private consumption expenditure in 2014 rose 2.7 percent, government consumption expenditure increased 3.1 percent, investment fell by 0.3 percent and both total exports of goods and imports of goods increased 1.0 percent. 

For 2015, the Hong Kong GDP is expected to grow between 1.0 to 3.0 percent. 

Hong Kong Economy Slows in Q4

Censtatd l Rida Husna l rida@tradingeconomics.com
2/25/2015 4:07:54 AM