You are here
Hong Kong's economic growth slows to 3% in 2018
[HONG KONG] Hong Kong's economy grew 3 per cent in 2018, the government said on Wednesday, slightly slower than its forecast, as a bruising trade war between Washington and Beijing weighs and poses greater risks to the city this year.
Financial secretary Paul Chan, in his budget speech, forecast growth of 2-3 per cent for this year.
The government said the fourth quarter expanded 1.3 per cent from a year earlier.
Mr Chan had said in a blog post this month the economy grew less than 1.5 per cent in the fourth quarter against 2.9 per cent growth in the previous three months. Some economists had estimated 2 per cent annual growth, while the government had forecast 3.2 per cent.