Economics
Hong Kong's Economy Grew Slower Than Expected in First Quarter
- Pace the weakest in a decade amid trade and China headwinds
- Government to announce revised data on May 17 with forecasts
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Hong Kong’s economy expanded at the weakest pace since the aftermath of the global financial crisis a decade ago, as a fragile global outlook and the U.S.-China trade war dampened activity.
First-quarter gross domestic product grew 0.5 percent compared with a year ago, after a revised expansion of 1.2 percent in the final period of 2018, according to advance estimates in a government announcement. That was below all but one economist forecast. On the quarter though, growth surprised to the upside, accelerating to 1.2 percent.