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HK 2Q GDP +7.5% YoY in Real Terms, Missing Forecast
The Census and Statistics Department (C&SD) released today (July 30) the advance estimates on Gross Domestic Product (GDP) for the second quarter of 2021. According to the adva...
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HK 2Q GDP +7.5% YoY in Real Terms, Missing Forecast
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2021/07/30 16:46
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The Census and Statistics Department (C&SD) released today (July 30) the advance estimates on Gross Domestic Product (GDP) for the second quarter of 2021. According to the advance estimates, GDP increased by 7.5% (consensus: +7.8%) in real terms in the second quarter of 2021 over a year earlier, compared with the increase of 8% in the first quarter. The growth in GDP in the second quarter of 2021 was mainly attributable to the visible increases in both domestic and external demand.

A Government spokesman said that the Hong Kong economy is on the path to recovery alongside the improving global economic conditions and receding local epidemic. According to the advance estimates, real GDP sustained notable year-on-year growth of 7.5% in the second quarter of 2021, having expanded by 8% in the first quarter. For the first half of 2021 as a whole, real GDP grew by 7.8% over a year earlier.On a seasonally adjusted basis, real GDP recorded a modest decline in the second quarter from the preceding quarter, mainly reflecting some slowdown in exports of goods from the exceptionally strong growth in the first quarter.
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