HK posts 0.6% Q2 growth clouded by trade war

HKskyline

HONG KONG: Hong Kong’s economy grew 0.6% in the second quarter from a year earlier, the government said, but the prolonged Sino-US trade war and growing social unrest are increasingly clouding the outlook for the Asian financial centre.

The pace of growth in April-June was the same as the first quarter, but much less than an average forecast of 1.6% from five economists.

On a quarterly basis, the economy shrank by a seasonally adjusted 0.3%, compared with a revised 1.3% expansion in the first quarter. The government is forecasting GDP growth of 2-3% this year, versus 3% in 2018. — Reuters