HK Narrows 2023 GDP Expectations as Recovery Loses Steam
- Government revises growth forecast to range of 4% to 5%
- ‘Difficult global economic environment’ will weigh on exports
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Hong Kong is slightly less optimistic about its outlook for economic growth this year as the post-pandemic activity boom runs out of steam and challenges from China and the rest of the world weigh on the financial hub.
Gross domestic product is expected to expand in a range of 4% to 5% in 2023, compared with a previous prediction of 3.5% to 5.5%, the Census and Statistics Department said Friday.