| HK economy grows in 3rd quarter, GDP up 6.2% |
| 2007-11-19 05:13 |
| From:Xinhua Article type:Reproduced |
HONG KONG -- Hong Kong's economy continued to grow in the third quarter with its GDP rising 6.2 percent in real terms over the same period last year, Acting Government Economist Helen Chan said Friday. The result marked the 16th consecutive quarter that GDP growth exceeded the average trend growth. Chan said, Hong Kong's economy should be able to attain 6 percent growth for 2007 as a whole, with GDP growth of 6.1 percent in the first three quarters and given the prevailing strength in domestic demand. Barring any abrupt adverse changes in the external environment, the economy looks set for further strong growth in the fourth quarter, she added. Merchandise exports grew 6.4 percent in real terms, with exports to Chinese mainland and many other emerging markets growing well. Services exports grew 12.3 percent, reflecting strong inbound tourism, vibrant financial market activities and a continued surge in offshore trade. Domestic demand played a key role in driving the economy forward. Private consumption spending grew 9.7 percent, supported by the improving job market and rising household income and wealth. Overall investment spending expanded, albeit at a slower pace of 2 percent in real terms. Yet business sentiment in almost all sectors continued to hold up well. |
| (Source: English Site of Department of Information Technology) |
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