The FINANCIAL — Hong Kong’s economy grew by a faster-than-expected 2.8% year-over-year in the second quarter, accelerating from the previous quarter’s 2.4% expansion, partly buoyed by improving private consumption, the government said on August 14, according to Nasdaq.
The second-quarter growth rate was faster than the median 2.2% increase forecast by five economists polled by The Wall Street Journal.
On a quarter-to-quarter basis, gross domestic product expanded 0.4% in the second quarter, slowing from the previous quarter’s 0.7% expansion, but higher than the poll’s median forecast for a 0.2% rise.
The government forecast the city’s GDP to grow 2%-3% this year, after a 2.5% expansion in 2014.