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HK Govt: HK Full Yr GDP Growth Forecast Maintained at 2.5-3.5%
The Hong Kong Government Economist, Adolph Leung, gave an account of the economic situation in 2Q24 and the latest GDP and price forecasts for 2024.The Hong Kong economy continued ...
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HK Govt: HK Full Yr GDP Growth Forecast Maintained at 2.5-3.5%
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The Hong Kong Government Economist, Adolph Leung, gave an account of the economic situation in 2Q24 and the latest GDP and price forecasts for 2024.

The Hong Kong economy continued to record moderate growth in 2Q24. Externally, total exports of goods continued to grow strongly while exports of services saw decelerated growth.

Domestically, overall investment expenditure rose further, but private consumption expenditure turned to a slight decline. Real GDP grew by 3.3% YoY, having increased by 2.8% in the preceding quarter. On a seasonally adjusted QoQ comparison, real GDP increased by 0.4%.

Taking into account the actual outturn in 1H24 and the latest developments of the global and local situation, the real GDP growth forecast for 2024 as a whole is maintained at 2.5-3.5%, the same as that in the May round of review.

The government will continue to closely monitor the situation.
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