Hong Kong Q3 GDP growth came in 1.8% YoY vs 3.1% exp. and 3.2% in Q2 2024. Quarterly GDP surprisingly dropped by -1.1% while markets anticipated 0.2% growth after 0.4% in Q2 2024. Overall, data point to slowing economy. The reading will be revised on November 15, with more details.
Private consumption expenditure declined by 1.4% YoY and 1.6% QoQ. Import decreased by 7.1% in the first 9 months of 2024, while export grown by 10.7% YoY. Hong Kong welcomed 32 million visitors in the first nine months of 2024 (almost 40% up YoY) but the China estimated 46 million this year, so it's still unclear will the final reading be in line with those expectations. HK.cash loses almost 0.5% today.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
