Hong Kong GDP Expands 0.4% in Q4

The Hong Kong economy advanced a seasonally adjusted 0.4 percent on quarter in the last three months of 2014, the weakest growth rate in nearly 3 years. Exports contracted, weighting down on growth while private and public spending slowed.
Joana Taborda | joana.taborda@tradingeconomics.com 2/25/2015 10:54:03 AM
Private consumption grew at a slower 1.1 percent (1.9 percent in Q3) and public spending slowed to 0.3 percent (from 1 percent). Exports of goods shrank 0.3 percent while imports increased 0.8 percent, after rising 1.8 percent and 0.8 percent respectively in the previous period. 

Year-on-year, the economy advanced 2.2 in the last three months of 2014, bringing full year growth to 2.3 percent (2.9 percent in 2013).

The occupy movement from September to December last year hurt consumption, retail, tourism and transport. For 2015, the government already announced fiscal measures to boost consumption, investment and growth, including cut personal and business taxes, increase child allowances and waiving license fees for hotels and restaurants.

Hong Kong GDP Expands 0.4% in Q4