Hong Kong GDP Expands 0.2% QoQ in Q1

In the first three months of 2014, Hong Kong’s economy advanced a meager 0.2 percent quarter-on-quarter. It is the slowest expansion in two years, mainly due to a fall in exports and a slowdown in private consumption.
Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com 5/16/2014 1:17:18 PM
Private consumption rose a seasonally adjusted 1.1 percent in the first three months of 2014, decelerating from a 1.8 percent increase in the last quarter of 2013.

In contrast, government spending accelerated slightly to 0.4 percent (0.3 percent in the December quarter).

Exports of goods fell by 3.4 percent in the first quarter from the preceding quarter, while exports of services rose slightly by 0.2 percent. Imports of goods contracted 0.6 percent while imports of services fell 4.4 percent.

Year-on-year, the GDP advanced at a slower 2.5 percent, as merchandise exports were sluggish, reflecting the slow improvements in the advanced markets.

Hong Kong GDP Expands 0.2% QoQ in Q1