The economy of Hong Kong has grown by the end of the third quarter by 2.9% in annual terms. Compared with growth of 3.5% in the previous quarter, its growth slowed down, official data showed. Analysts had expected a less significant slowdown - up to 3.3%. In quarterly terms, GDP increased by 0.1%, while a quarter earlier it showed a decrease of 0.2%. The growth of consumer spending fell to 5.2% from 6%, government spending - to 3.3% from 4.3%. The increase in exports by 5% was weaker than the growth in imports of goods by 7.6%. At the same time, in Hong Kong, there was an acceleration in the growth of investment in fixed assets - the figure in the third quarter jumped 8.2% after rising 1.1% a quarter earlier. September showed the weakest growth in retail sales for more than a year.
Reserve Bank of India slashes interest rates in urgent bid to bolster virus-hit economy26.03.2020
Singapore prepares for recession as virus-hit economy drops in first quarter20.03.2020
World economy suffers in recession due to COVID-19 havoc- economists19.03.2020
U.S. Fed rolls out third emergency program to ensure liquidity in money market mutual funds