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HK 3Q Overall GDP Rises 3.6% in Real Terms YoY
The Census and Statistics Department (C&SD) released today (December 21) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for t...
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HK 3Q Overall GDP Rises 3.6% in Real Terms YoY
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The Census and Statistics Department (C&SD) released today (December 21) the preliminary figures of chain volume measures of Gross Domestic Product (GDP) by economic activity for the third quarter of 2017. According to the preliminary figures, overall GDP increased by 3.6% in real terms in the third quarter of 2017 over a year earlier, compared with the 3.9% increase in the second quarter of 2017.

Analysed by constituent services sector and on a year-on-year comparison, net output in respect of all the services activities taken together increased by 3.5% in real terms in the third quarter of 2017 over a year earlier, compared with the 3.1% increase in the second quarter.

Net output in the import and export, wholesale and retail trades sector rose by 3.8% in real terms in the third quarter of 2017 over a year earlier, compared with the 3.5% growth in the second quarter. The growth in this sector was mainly underpinned by the vibrant regional trade flows and the pick-up in retail trades during the quarter.

Net output in the financing and insurance sector grew by 5.1% in real terms in the third quarter of 2017 over a year earlier, following the growth of 4.9% in the second quarter. The continued growth of net output in this sector was mainly underpinned by the buoyant stock trading activities during the quarter.

Net output in the accommodation services (covering hotels, guesthouses, boarding houses and other establishments providing short term accommodation) and food services sector increased by 2.4% in real terms in the third quarter of 2017 over a year earlier, compared with the growth of 1.2% in the second quarter.

Net output in the transportation, storage, postal and courier services sector increased by 4.9% in real terms in the third quarter of 2017 over a year earlier, similar to the growth of 4.8% in the second quarter.

Net output in the information and communications sector registered an increase of 3.8% in real terms in the third quarter of 2017 over a year earlier, after the increase of 3.4% in the second quarter.

Net output in the real estate, professional and business services sector increased by 2.0% in real terms in the third quarter of 2017 over a year earlier, similar to the growth of 2.1% in the second quarter.

Net output in the public administration, social and personal services sector recorded an increase of 3.6% in real terms in the third quarter of 2017 over a year earlier, higher than the growth of 2.6% in the second quarter.

As for sectors other than the services sectors, net output in the local manufacturing sector rose by 0.3% in real terms in the third quarter of 2017 over a year earlier, similar to the 0.4% growth in the second quarter.

Net output in the electricity, gas and water supply, and waste management sector recorded an increase of 5.3% in real terms in the third quarter of 2017 over a year earlier, as against the decrease of 0.8% in the second quarter.

Net output in the construction sector increased by 5.8% in real terms in the third quarter of 2017 over a year earlier, compared with the growth of 3.4% in the second quarter.
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