Q2 GDP growth to ease

July 15, 2019

Financial Secretary Paul Chan today said he expected GDP growth to continue to slow in the second quarter.


Speaking to the media at the airport, Mr Chan said the local economy expanded by 0.6% in the first quarter, and that the expected second quarter slowdown will be announced by government economists later.


He added that the value of retail sales and exports slowed further in April and May, but the labour market remained stable and offered some support to local consumption.


Mr Chan also said now that Sino-US trade talks have resumed, international economic and trade tensions have eased.


The global economy in the second half still faces downside risks due to uncertain factors such as the geopolitical situation, he added.


On yesterday’s public procession, Mr Chan noted different demands and opinions inevitably exist in society.


He said mutual understanding and communication are crucial and people should not resort to violent acts.

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