HK economy grew slower than expected in first quarter

First-quarter gross domestic product grew 0.5% compared with a year ago, after a revised expansion of 1.2% in the final period of 2018, according to advance estimates in a government announcement

HONG KONG: Hong Kong’s economy expanded at the weakest pace since the aftermath of the global financial crisis a decade ago, as a fragile global outlook and the US-China trade war dampened activity.

First-quarter gross domestic product grew 0.5% compared with a year ago, after a revised expansion of 1.2% in the final period of 2018, according to advance estimates in a government announcement. That was below all but one economist forecast. On the quarter though, growth surprised to the upside, accelerating to 1.2%.