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HK's Q3 GDP grows 1.9pc, slightly higher than analysts forecasts
HONG Kong's economy expanded by 1.9 per cent year on year in the third quarter, slightly higher than the 1.7 per cent growth in the previous three-month period.
Compared with the second quarter, gross domestic product (GDP) expanded 0.6 per cent in the three months through September, beating most analysts' forecasts. This was mainly due to an increase in local spending boosted by the pick-up in the property market and an uptick in stock trading.
For the first three quarters of the year, Hong Kong's GDP grew 1.4 per cent, more or less in line with government's expectations.
Officials have predicted another quarter of modest growth in the final quarter, and the government is now expecting GDP growth for the whole year to be 1.5 per cent. The government had earlier forecast a growth ranging between one and two per cent for the year.
Compared with the second quarter, gross domestic product (GDP) expanded 0.6 per cent in the three months through September, beating most analysts' forecasts. This was mainly due to an increase in local spending boosted by the pick-up in the property market and an uptick in stock trading.
For the first three quarters of the year, Hong Kong's GDP grew 1.4 per cent, more or less in line with government's expectations.
Officials have predicted another quarter of modest growth in the final quarter, and the government is now expecting GDP growth for the whole year to be 1.5 per cent. The government had earlier forecast a growth ranging between one and two per cent for the year.
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