Hong Kong's economy is caught moderating, although expansionary budget will lend support

Hong Kong's economy is caught moderating, although expansionary budget will lend support

Firm consumption along with frothy stock and also real estate markets probably spurred Hong Kong's economic surge in the fourth quarter, although higher American interest rates in addition to diving China capital inflows might pose broader risks to surge in 2018.

With the economy demonstrating signs of moderation, the authorities are going to announce short-term relief measures as well as capital spending initiatives for the purpose of sustaining surge in an expansionary budget on Wednesday, as local media informed.

As one of the most transparent and free economies around the globe, Hong Kong's surge turns to be extremely reliant on trade, capital, tourist, not to mention China’s investment.  A leap in domestic spending, a jump in visitors from the mainland as well as improved retail spending assisted to increase GDP in 2017 after a tough 2016.

Market experts are assured that Hong Kong’s private consumption will probably remain firm in the face of steady surge. What’s more - the retail sector, which is one of four cornerstones of the city’s economy, will most probably keep being backed by the revival in tourist arrivals along with firm domestic demand.

Six financial experts polled by Reuters actually expected fourth quarter surge of 3.2% from 2017, sliding from 3.6% in the July-September quarter. However, the experts didn’t offer quarterly estimates. As for the third quarter, it expanded a seasonally updated 0.5%.

In the final quarter the still-solid momentum is going to bring full-year surge to a projected 3.7%, which is the fastest tempo since 2011, also tacking on from 1.9% surge in 2016.

The ex-British colony has faced brighter economic data for the last few months because buoyant markets spurred consumer spending, assisting the authorities in raising its full-year surge outlook to 3.7% in 2017.

Similar

Canadian CPI

Inflation data is the most important indicator that affects the central bank’s monetary policy.

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera