PREVIEW: Hong Kong's 3Q GDP likely grew 0.5% on-quarter, reversing 2Q's 0.1% contraction on recovering exports and solid local demand, according to the median forecast of five economists polled by Dow Jones Newswires. This means the city's economy will avoid a technical recession, which is typically defined as two consecutive quarters of contraction. On-year, the city's 3Q GDP likely expanded 1.6%, faster than 2Q's 1.1% growth. Economists warn the fragile global outlook could impact the city's economic growth in the coming quarters. Credit Agricole senior strategist Frances Cheung says the mild recovery in exports helped to support the local economy. "Still, the outlook depends a lot on external demand, where there is still a high level of uncertainty," Ms. Cheung adds. The government is scheduled to release the 3Q GDP data at 0830 GMT.
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