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Mstyslav Chernov
The economic recovery picked up speed from 4.1% in the third quarter thanks to increases in consumer spending and exports of goods and services.
Additionally, provisional reports indicated that Hong Kong's GDP grew by 4.3% during the fourth quarter. Experts questioned by Trading Economics said they did not anticipate the number to be changed.
At that, the Hong Kong Statutory Authority reduced its quarterly GDP growth prediction from 0.5% to 0.4%.
Fourth-quarter consumer spending in Hong Kong grew by 3.3% year over year while government spending decreased 5.2%. Fixed asset investments surged by 16.4%.
Exports of services increased by 22.2%, while imports added 28.4%. Goods imports increased by 3.6% and exports by 2.6%.
Hong Kong's economy expanded by 3.2% overall in 2023.
Authorities in Hong Kong predict 2.5–3.5% GDP growth in 2024.
source: tradingeconomics.com
Additionally, provisional reports indicated that Hong Kong's GDP grew by 4.3% during the fourth quarter. Experts questioned by Trading Economics said they did not anticipate the number to be changed.
At that, the Hong Kong Statutory Authority reduced its quarterly GDP growth prediction from 0.5% to 0.4%.
Fourth-quarter consumer spending in Hong Kong grew by 3.3% year over year while government spending decreased 5.2%. Fixed asset investments surged by 16.4%.
Exports of services increased by 22.2%, while imports added 28.4%. Goods imports increased by 3.6% and exports by 2.6%.
Hong Kong's economy expanded by 3.2% overall in 2023.
Authorities in Hong Kong predict 2.5–3.5% GDP growth in 2024.
source: tradingeconomics.com
