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Hong Kong's Q2 economic growth estimate lowered to 2 pct

Xinhua, July 7, 2015 Adjust font size:

An economic forecast made public Tuesday by the University of Hong Kong (HKU) lowered its estimate of Hong Kong's real GDP growth in the second quarter this year to 2 percent from the previous forecast of 2.4 percent.

The APEC Studies Program of the Hong Kong Institute of Economics and Business Strategy at the university released its quarterly Hong Kong Macroeconomic Forecast on Tuesday, saying the revision of the estimate reflects the slackening of external demand.

In the third quarter, real GDP growth is forecast to be 1.7 percent when compared with the same period last year, according to the report.

The report also said the effect of the U.S. dollar appreciation on Hong Kong economy is likely to be long and variable.

Hong Kong's real GDP is expected to grow by 2.0 percent in 2015 for the year as a whole, likely between 1.6 percent and 2.4 percent, slower than the 2.5 percent growth in 2014. Endi