Hong Kong’s economy likely grew 3.4 pct in Q1 2018

Hong Kong’s economic growth data for the first quarter is set to be released this week. According to a DBS Bank research report, the Hong Kong economy is likely to have grown 3.4 percent year-on-year in the March quarter. Externally, trade figures held up well at the beginning of this year.

Retail sales value recorded double digit growth in the initial two months of 2018. This was largely underpinned by the full-employment and a buoyant equity market. Investment should continue to hold up well in the midst of an optimistic economic sentiments and the red-hot housing market.

“Likewise, government spending should have expanded under the new administration on the back of the record high fiscal reserve (HKD1.09tn)”, stated DBS Bank.

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