Hong Kong's Q3 GDP growth of 1.8% misses the forecast 3.1%, due to weakened private consumption.
Hong Kong's economy grew by 1.8% year-on-year in Q3, missing the 3.1% forecast. The slowdown is attributed to weakened private consumption, which fell by 1.4%. This trend reflects similar challenges faced by China. Despite global economic uncertainties, the government anticipates continued growth, supported by monetary easing and stimulus measures in China. Initiatives from Hong Kong's leader aim to boost the economy, including enhancing gold trading and attracting foreign investment.
October 31, 2024
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