Hong Kong economy grows 5.4% yoy in Q3, government upgrades 2021 forecast

[HONG KONG] Hong Kong's economy grew 5.4 per cent in the third quarter from a Covid-19 induced slump a year earlier, the government said on Friday.

Year-on-year growth slowed from 7.6 per cent in the second quarter.

On a quarterly basis, the economy expanded by a seasonally adjusted 0.1 per cent in July-September. That compared with a contraction of 0.9 per cent in the previous quarter.

The government revised up its full-year growth forecast to 6.4 per cent from 5.5 per cent-6.5 per cent, but revised down full-year underlying CPI forecast for 2021 to 0.7 per cent from 1 per cent.

REUTERS