Economy

Hong Kong This autumn GDP development falls to close Three-year low

Hong Kong's financial development slowed to its lowest level in nearly three years within the final three months of 2018, the town's finance secretary mentioned in his annual finances, citing "rising exterior pressures ".

home product rose 1.Three% within the three months to December, the slowest tempo of development for the reason that first quarter of 2016.

the town's economic system grew by Three% in 2018 in contrast with the earlier 12 months, the federal government's brief forecast a development of three.2%

Paul Chan, secretary of finance, mentioned the Brewery commerce tensions had dampened world development within the second half of 2018, with commerce in Asia being significantly weakened in direction of the top of the 12 months. For Hong Kong, the town's whole items exports grew at an annual charge of three.5% per 12 months, however for the fourth quarter, outbound shipments fell by zero.2% year-on-year. # 39; different.

Chan predicts GDP development for 2019 of two to three %, "the uncertainty of the worldwide financial outlook this 12 months will restrict Hong Kong's financial efficiency."

Nonetheless, the scenario might enhance if the US-China commerce warfare was resolved, Chan mentioned.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close