Hong Kong's economy grew 2.9% in the third quarter

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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.

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