Economist lifts Hong Kong outlook, citing stronger economic prospects

UOB now predicts a 2.9% economic growth, up from 2.5%

UOB Global Economics has raised its forecast for Hong Kong's economic growth to 2.9%, up from 2.5%.

The adjustment aligns closely with the mid-point of the official forecast range of 2.5% - 3.5%.

The heightened projection reflects growing confidence in the region's economic prospects, driven by stable conditions in mainland China and governmental efforts to bolster the property and tourism sectors.

“Whilst the stabilisation of the Mainland’s economy and Hong Kong government’s measures to boost the property market and tourism industry is positive for the domestic demand outlook, there remain risks that we watch for such as trade tariffs from US and EU which may affect the export outlook,” said Stephen Li, head of global markets of Greater China at UOB, said. 

Economists expect a slight moderation to 2.3% in Q2 before the economy rebounds to 3.3% YoY in the second half.