Hong Kong Economy Accelerates in Q3


Hong Kong GDP advanced 2.7 percent year-on-year in the third quarter of 2014, compared to a 1.8 percent expansion from April to June. A rise in private and public consumption was enough to offset falling investment and lower exports.

Private consumption expenditure grew 3.2 percent, compared with a 1.2 percent growth in the second quarter. Government consumption increased by 3.5 percent, compared with a 2.7 percent expansion reported in the previous period.

Gross domestic fixed capital formation decreased by 4.7 percent after a 5.7 percent contraction in the second quarter. Expenditure on machinery, equipment and intellectual property products dropped by 11.9 percent compared with a 9.8 percent decrease in the second quarter. In contrast, expenditure on building and construction increased by 1.1 percent, compared with the increase of 0.5 percent in the second quarter.

Total exports of goods increased by 1.3 percent, compared with a growth of 2.4 percent in the second quarter. Imports rose by 0.7 percent compared with the 1.1 percent growth in the second quarter.

On a seasonally adjusted quarter-to-quarter basis, the GDP increased by 1.7 percent.

Hong Kong Economy Accelerates in Q3


Censtatd | Ricardo Martins | ricardo.martins@tradingeconomics.com
11/14/2014 11:52:05 AM