Hong Kong's economy is on track to report firm third-quarter surge

Hong Kong's economy is on track to report firm third-quarter surge

Hong Kong's economy is supposed to have clocked firm surge in the third quarter, underpinned by ascending retail sales, a leap in tourists from mainland China as well as sturdy global trade.

The ex-UK colony has demonstrated brighter economic data for the last few months because buoyant stock as well as property markets helped to spur consumer spending, assisting the government to lift its full-year surge outlook to about 3-4%.

The city’s economy is supposed to have grown 3.5% during the third quarter from 2016, versus 3.8% in the previous quarter, according to the median estimate of five experts polled by Reuters.

One expert with a quarter-on-quarter estimate actually expects the city’s economy to have ascended a seasonally-adjusted 0.6% during the third quarter versus 1% surge in the April-June quarter.

In general, Asian economies highly dependent on trade have managed to derive huge benefits in 2017 from an improvement in demand worldwide.

 

 

 

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