Hong Kong: Q1 GDP growth slows to 0.6%

[HONG KONG] Hong Kong's economy grew a slower 0.6 per cent in the first quarter from a year earlier, the government said on Friday, hit by a slowdown in exports and investment amid US-China trade frictions.

The first quarter's pace compares with an annual expansion of 1.2 per cent in the previous quarter, and was slightly higher than its advance estimate of 0.5 per cent growth.

On a quarterly basis, the economy expanded a seasonally adjusted 1.3 per cent for the January-March period, after a revised 0.5 per cent contraction in the fourth quarter of 2018.

The government is forecasting GDP growth of 2-3 per cent this year, versus 3 per cent in 2018.

REUTERS