Financial news
Written by: Zhang Weilun
2020-01-07 17:26
Last updated: 2020-01-07 17:27The Asia-Pacific Economic Cooperation Research Project of the Institute of Economics and Business Strategies of the University of Hong Kong announced the latest Hong Kong economic forecast report. It is expected that the Hong Kong economy will continue to decline by 2.9% in the third quarter of 2019, and real GDP in the fourth quarter will fall by 3.3% year-on-year. Shrinked by 1.3%.
The last forecast of the institute is expected to record zero growth for the whole of last year.
The institute pointed out that the global economic slowdown and demonstrations related to the Anti-Amendment Movement have dampened investor confidence, stifled investment and increased unemployment. It is expected that the economy will continue to contract, with GDP contracting by 2.8% year-on-year in the first quarter of this year.
However, I believe that with the support of government measures, the economy will stabilize in the second half of this year, with an annual growth rate of 0.4%.
Hong Kong Economy