Hong Kong growth to match Singapore’s for first time since 2008

Hong Kong's economic rebound continued in the second quarter of 2021. - Reuters

HONG KONG (Bloomberg): Hong Kong’s economy is expected to catch up with rival financial hub Singapore’s pace of expansion this year for the first time since 2008, as it recovers from a pandemic-induced downturn.

Economists have raised their growth forecasts for Hong Kong by 0.7 percentage points to 6.7% this year, while Singapore’s growth outlook was upgraded by 20 basis points to an expansion of 6.5%, according to the median estimates in a Bloomberg survey.