Economy / Hong Kong
If you would like to subscribe to China & North Asia Monitor and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to China & North Asia Monitor please click on the trial link below.
Hong Kong
March 2008 | Ratings UpdateSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
If you would like to subscribe to China & North Asia Monitor and gain instant access to this article, please click here to subscribe.
If you would like to take a trial to China & North Asia Monitor please click on the trial link below.
Hong Kong's Q407 GDP figures revealed an acceleration in growth from the previous quarter. The territory registered real GDP growth of 6.7% y-o-y, up from 6.3% in Q307, buoyed by tight labour market conditions and low costs of credit which ensured domestic demand remained robust. However, going forward real GDP growth will slow as weaker external conditions weigh on the city's export sector. We are forecasting economic growth in Hong Kong to slow to 5.6% in 2008 after accelerating to 6.3% 2007. This is more optimistic than government estimates for 4-5% growth, and the Asian Development Bank 's forecast of 5.4%.