Hong Kong Economy Slows in Q3

The Hong Kong GDP advanced 2.3 percent year-on-year in the third quarter of 2015, slowing from a 2.8 percent expansion in the previous period. It is the lowest performance since the second quarter of 2014, as household spending slowed while investment and exports shrank.

Private expenditure grew 4.3 percent thanks to broadly favourable job and income conditions, but slowing from a 6.1 percent rise in the previous quarter. Government spending rose at a slower 2.6 percent (3.3 percent in the second quarter). 

In contrast, gross fixed capital formation contracted 6.5 percent, after rising 5.2 percent in the previous period amid a rather austere external environment. Weak external demand dragged exports of goods down (-3.2 percent compared to -3.6 percent in the previous period) while imports fell 4.1 percent (-3.2 percent in the previous period).

On a quarterly basis, the economy expanded 0.9 percent, the highest growth rate in a year. 

Hong Kong Economy Slows in Q3

Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com
11/13/2015 10:50:21 AM