Hong Kong Q3 GDP expands 4.1%, growth forecast revised lower

HONG KONG -Hong Kong's economy expanded 4.1 percent in the third quarter from a year earlier, beating growth of 1.5 percent in the second quarter and 2.9 percent in the first, the government said on Friday, adding that inbound tourism and private consumption would underpin growth for the rest of the year. However, the government revised down the full-year economic growth forecast to 3.2 percent from an earlier estimate of a 4 percent to 5 percent range. The economy shrank 3.5 percent in 2022. Adolph Leung, a government economist, said in a statement that private consumption, improvement in household income and the government's support initiatives should bolster growth, while mo...

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