Hong Kong Expects Growth to Slow as Sluggish Demand Weighs
- Official 2024 growth forecast revised to 2.5% from 2.5%-3.5%
- City faces housing downturn, global tensions, China’s slowdown
Causeway Bay, Hong Kong.
Photographer: Chan Long Hei/BloombergThis article is for subscribers only.
Hong Kong revised growth expectations to the lowest end of its previous forecast, showing mounting pressures from weaknesses in exports and consumption.
The city changed its 2024 growth forecast to 2.5% from a range of 2.5%-3.5% estimated in August, the Census and Statistics Department said Friday. The adjustment suggests expansion will slow from last year’s 3.3% and came after data showed growth slowed to the weakest in five quarters.