Hong Kong Economy Slows in Q3

The Hong Kong GDP advanced 2.3 percent year-on-year in the third quarter of 2015, slowing from a 2.8 percent expansion in the previous period. It is the lowest performance since the second quarter of 2014, as household spending slowed while investment and exports shrank.
Census and Statistics Department | Joana Taborda | joana.taborda@tradingeconomics.com 11/13/2015 10:50:21 AM
Private expenditure grew 4.3 percent thanks to broadly favourable job and income conditions, but slowing from a 6.1 percent rise in the previous quarter. Government spending rose at a slower 2.6 percent (3.3 percent in the second quarter). 

In contrast, gross fixed capital formation contracted 6.5 percent, after rising 5.2 percent in the previous period amid a rather austere external environment. Weak external demand dragged exports of goods down (-3.2 percent compared to -3.6 percent in the previous period) while imports fell 4.1 percent (-3.2 percent in the previous period).

On a quarterly basis, the economy expanded 0.9 percent, the highest growth rate in a year. 

Hong Kong Economy Slows in Q3