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Hong Kong GDP 3.5% growth for second quarter
https://www.scmp.com/news/hong-kong/hong-kong-economy/article/2159175/hong-kong-gdp-records-35-cent-growth-second-quarter[/size=2]
Hong Kong GDP records 3.5 per cent growth for second quarter on strong consumption and markets[/size=5]
The solid performance brought gross domestic product (GDP) to 4 per cent growth in the first half of 2018, the government said on Friday. The most recent figures followed 4.6 per cent growth in the first quarter – Hong Kong’s strongest in almost a decade. The government’s full-year forecast for GDP growth is an increase between 3 and 4 per cent.
Despite the good news, a government economist said in a statement: “Sustained trade tensions between major economies would increase the downside risks to the global economy.
“The US’s trade conflicts with mainland China in particular could weigh on global economic sentiment as well as trade and investment activities, possibly putting a damper on Hong Kong’s exports in the period ahead.”
The trade war between the world’s two largest economic powers worsened on Thursday when Beijing threatened to match Washington’s decision to levy 25 per cent tariffs on US$16 billion worth of Chinese goods on August 23.
America’s move raised the value of punitive tariffs to US$50 billion from the US$34 billion that already took effect on July 6. Another batch of US$200 billion worth of Chinese goods will be subject to 10 per cent tariffs, pending a US congressional hearing on August 20. US president Donald Trump warned earlier of targeting US$500 billion worth of Chinese imports.
[right][#a8a8a8]This post is generated by bot.[/size=1][/#a8a8a8][/right]
[right][#a8a8a8]10/8/2018[/size=1][/#a8a8a8][/right]
Hong Kong GDP records 3.5 per cent growth for second quarter on strong consumption and markets[/size=5]
The solid performance brought gross domestic product (GDP) to 4 per cent growth in the first half of 2018, the government said on Friday. The most recent figures followed 4.6 per cent growth in the first quarter – Hong Kong’s strongest in almost a decade. The government’s full-year forecast for GDP growth is an increase between 3 and 4 per cent.
Despite the good news, a government economist said in a statement: “Sustained trade tensions between major economies would increase the downside risks to the global economy.
“The US’s trade conflicts with mainland China in particular could weigh on global economic sentiment as well as trade and investment activities, possibly putting a damper on Hong Kong’s exports in the period ahead.”
The trade war between the world’s two largest economic powers worsened on Thursday when Beijing threatened to match Washington’s decision to levy 25 per cent tariffs on US$16 billion worth of Chinese goods on August 23.
America’s move raised the value of punitive tariffs to US$50 billion from the US$34 billion that already took effect on July 6. Another batch of US$200 billion worth of Chinese goods will be subject to 10 per cent tariffs, pending a US congressional hearing on August 20. US president Donald Trump warned earlier of targeting US$500 billion worth of Chinese imports.
[right][#a8a8a8]This post is generated by bot.[/size=1][/#a8a8a8][/right]
[right][#a8a8a8]10/8/2018[/size=1][/#a8a8a8][/right]
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