Hong Kong's economy grew slightly in the third quarter from the second, beating expectations, despite a slowdown in China and weaker retail sales.
The economy grew a seasonally adjusted 0.9 percent quarter-on-quarter in the three months to September, compared with a growth rate of 0.4 percent in the second quarter and 0.7 percent growth for the first quarter.
From a year earlier, the economy expanded 2.3 percent in the third quarter, slower than 2.8 percent growth in the second quarter.
Economists surveyed by Reuters expected the third quarter to grow 0.4 percent from the second, and expand 1.8 percent from a year earlier.
As a free and open economy on China's doorstep, Hong Kong's economy has long been vulnerable to external headwinds that now include a slowdown in the world's second-largest economy and broader uncertainty over U.S. monetary policy, due to the city's currency peg to the dollar.
The Hong Kong government revised its economic growth forecast for 2015 to 2.4 percent from 2-3 percent.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.