Upward GDP growth revision likely

(July 22, 2017)

Financial Secretary Paul Chan says Hong Kong’s economic growth forecast for the year is likely to be increased by half a percentage point.
 
Mr Chan made the statement to the media today after attending a radio programme.
 
He said his previous estimate of 2% to 3% GDP growth now appears too conservative and a full-year economic forecast will be announced in August.
 
As a small-scale outward economy, Hong Kong is benefitting from a rare occurrence of the economies of the Mainland, US, Europe and Japan simultaneously performing well, Mr Chan added.
 
However, he warned the outlook for the global economy is still uncertain, especially in terms of further possible US interest rate hikes.