Hong Kong GDP Grows 5.2%, Marking 15th Straight Quarter of Expansion

Advance estimates from Hong Kong’s Census and Statistics Department showed that gross domestic product grew 5.2 per cent year on year in the third quarter, extending the economy’s expansion to 15 consecutive quarters.

The figure came after growth of 4.2 per cent in the second quarter and 5.9 per cent in the first quarter. For the first three quarters combined, the economy expanded 5.1 per cent, its fastest growth for the period in five years.

The data places the third-quarter result within a year in which quarterly growth remained positive, even as the reported rate moved from 5.9 per cent to 4.2 per cent and then 5.2 per cent.

Retail sales and shipments

Retail sales rose 6.4 per cent in September, according to the figures reported with the GDP result. Demand for AI-related products helped drive a 64.9 per cent year-on-year surge in the value of September shipments.

The shipment increase provides trade-related detail alongside the rise in retail sales, while GDP captures the economy’s overall performance. Together, the figures show the 5.2 per cent third-quarter expansion alongside higher retail sales and increased September shipment values.

Source: South China Morning Post