Hong Kong Economic Outlook
April 24, 2018Last year’s upbeat momentum persisted in the first quarter on the strength of both domestic and external demand. Healthy retail sales in the first two months of the year and full employment through March will likely translate into strong household spending, which posted impressive gains late last year on booming asset values and the rebound in tourism. Although survey data through the first quarter pointed to solid gains by the private sector, a slowdown in mainland Chinese demand in March suggests that economic activity could face stronger headwinds over the coming months. Encouragingly, exports posted sizeable gains across most major markets in the first two months of the year, easing earlier concerns that trade flows through the city had slumped at the outset of the year.
Hong Kong Economic GrowthDespite a robust first quarter, economic growth appears set to moderate somewhat later this year as trade concerns mount over mainland Chinese demand, offsetting otherwise strong global tailwinds. Stronger government spending and buoyant asset prices will support domestic demand, although higher interest rates could cool the red-hot property market. Met the why particular panelists expect growth of 3.1% in 2018, up 0.2 percentage points from last month’s forecast, and 2.6% in 2019.
Hong Kong Economy Data
5 years of Hong Kong economic forecasts for more than 30 economic indicators.
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Hong Kong Facts
|Bond Yield||2.37||3.38 %||May 21|
|Exchange Rate||7.85||-0.11 %||May 21|
|Stock Market||31,234||-1.92 %||May 21|
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Hong Kong Economic News
May 11, 2018
The economy started 2018 at full throttle, registering impressive 4.7% year-on-year GDP growth in the first quarter, a sizeable acceleration from the 3.4% growth recorded in the previous quarter.
May 4, 2018
In April, the Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, fell from 50.6 in March to 49.1, a clear warning signal that the growth momentum observed in the region in past quarters waned at the start of Q2.
May 3, 2018
Retail sales volumes rose a robust 11.0% in annual terms in March, down from a stellar 28.2% expansion in February, which had largely been due to the seasonal effects of the Lunar New Year holiday—the Lunar New Year was in February this year as opposed to January in the previous year.
April 23, 2018
Inflation ticked down to 2.6% in March, easing from February’s 3.1% as the Lunar New Year holiday-pricing base effect wore away.
April 6, 2018
In March, the Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, dipped from February’s four-year high 51.7 to 50.6.