Published:
Domestic demand likely to boost Hong Kong real GDP to 3.4%
It's up from 2.5% in 4Q12.
According to Hang Seng Bank's Hong Kong Economic Monitor, their analysis suggests that Hong Kong 1Q13 GDP was once again supported by firmer domestic demand. Real GDP growth looks set to accelerate to 3.4% in 1Q13, up from 2.5% in 4Q12.
"By our estimates, private consumption was notably stronger in 1Q13 than it had been in 4Q12. Expansion in private capital outlays and public spending in infrastructure are expected to lead to a 7.5% growth in gross fixed capital formation. Against this, there is likely to be a negative drag from net export since imports (+4%) expanded faster than exports (+2.5%) in real terms," it said.
Read Here
Advertise
Sign Up
