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Hong Kong sees 1.9-pct growth in 2016: financial chief

Xinhua, February 22, 2017 Adjust font size:

Hong Kong witnessed an overall economic growth of 1.9 percent in 2016, an official said on Wednesday.

Hong Kong growth in 2017 will range between 2 to 3 percent, said Financial Secretary Paul Chan Mo-po while delivering the 2017-18 Budget.

In 2016, the local economy picked up progressively from a marginal growth rate of 1 percent in the first quarter to 3.1 percent in the fourth quarter, he said.

The unemployment rate averaged 3.4 percent last year, sustaining a state of full employment in general, he added.

Inflation pressure was moderate. The headline inflation rate for 2016 was 2.4 percent and the underlying inflation rate was 2.3 percent in 2016, the fifth consecutive year of easing, he noted. Endit