Hong Kong's economy grew by 3% in 2018


The growth rate of the Hong Kong economy in the fourth quarter of last year was the slowest since the first quarter of 2016. The growth was at the level of 1.3% compared to the same quarter of 2017, while the increase expected by experts was 2.2%. According to the data provided by the Financial Secretary of Hong Kong, Paul Chan, in the annual budget message, GDP in 2018 grew by 3%. Economists had predicted a growth of 3.3% for the year. In quarterly terms, the economy of Hong Kong in the last quarter of 2018 decreased by 0.3%, which was less than the 0.6% drop expected by economists. Such factors as trade disputes between the United States and China, the weakening of the Chinese economy, as well as the decline in the real estate market had a negative impact on Hong Kong's GDP.

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