Hong Kong Cuts Growth Forecast as World Economy Falters

Hong Kong’s government cut its estimate for the city’s expansion this year after the economy grew at close to the slowest pace since the financial crisis amid waning export demand from advanced nations.

Growth will probably be in a range of 1 percent to 2 percent, the government said in a statement yesterday, compared with a previous forecast of 1 percent to 3 percent. Gross domestic product rose 1.1 percent from a year earlier in the second quarter, after a revised 0.7 percent gain in the first three months.