Macroeconomic Forecast Hong Kong

Hong Kong's GDP fell by 2.5% y-o-y in Q408, a worse performance than during the SARs outbreak in 2003, dragging 2008 full-year growth to just 2.5%, down sharply from the 6.4% expansion recorded in 2007. Meanwhile, merchandise exports experienced their worst decline in 50 years in January as shipments plummeted by 21.8% y-o-y to compound the 11.4% decline registered in December.

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