Hong Kong third-quarter GDP grows 2.9 percent, outlook clouded by trade war

Published 11/16/2018, 03:41 AM
Updated 11/16/2018, 03:45 AM
© Reuters. Traffic is seen between office buildings in downtown Hong Kong

HONG KONG (Reuters) - Hong Kong's economy grew 2.9 percent in the third quarter from a year earlier, the government said on Friday, boosted by steady consumer spending, but the outlook for the city is overshadowed by trade tensions between Washington and Beijing.

The average forecast from five economists was for a third-quarter growth of 2.9 percent from a year earlier.

The growth rate compares with an annual expansion of 3.5 percent in the second quarter.

© Reuters. Traffic is seen between office buildings in downtown Hong Kong

In July-September, the economy expanded 0.1 percent from the previous quarter, on a seasonally adjusted basis. The quarterly pace was slower than the second quarter's 0.2 percent.

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