Hong Kong Economy Advances 0.5% QoQ in Q3

In the third quarter of 2013, Hong Kong quarter-on-quarter GDP growth slowed to a seasonally adjusted 0.5 percent, from 0.7 percent in the second quarter, hurt by a drop in private consumption and exports of services.

While private consumption shrank for the second consecutive quarter by 0.8 percent (2.2 percent in the previous three-month period), government expenditure slowed to 0.1 percent, after advancing 2 percent in the June quarter.

Exports of goods surged to a 3.1 percent growth rate after falling 3.1 percent in the previous quarter. In contrast, shipments of services shrank for the first time in four quarters by 4.6 percent. 

On a year-on-year comparison basis, the GDP growth slowed to 2.9 percent, after advancing 3.2 percent in the previous quarter, the fastest pace in two years.

Hong Kong Economy Advances 0.5% QoQ in Q3

Joana Taborda | joana.taborda@tradingeconomics.com
11/15/2013 9:25:38 AM