Hong Kong's 3Q economy grows 0.6% from the previous quarter, thanks to improving exports of goods and solid domestic demand. That was better than the median 0.5% rise forecast in a survey of five economists, and a reversal from the 2Q's 0.1% contraction.This means the city has avoided a technical recession, which is typically defined as two consecutive quarters of contracting GDP. Still, economists say the outlook remain cloudy. "In the U.S., recent economic data have been more positive, though with the outlook still overcast by the looming 'fiscal cliff.' Against this background, Hong Kong's trading environment is still subject to a high degree of uncertainty," says government economist Helen Chan. On year-on-year basis, 3Q GDP expands 1.3% vs 2Q's 1.2% rise.
Find us on Google+
No comments:
Post a Comment