Macroeconomic Forecast Hong Kong

BMI View: Hong Kong's real GDP growth slowed to 5.6% y-o-y in Q107, from an impressive 7.3% in Q406. The economy continued to be supported by strong domestic demand, while export growth declined in the face of a slowing US economy, in line with our core view. Despite first quarter data coming in below expectations, the economy should continue to expand at a healthy pace this year, with ongoing improvements in an already vibrant labour market underpinning the largely positive domestic outlook. Furthermore, the territory will continue to benefit from mainland China's still rapid economic expansion, which has spurred investment,

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