Hong Kong Q1 GDP expands 2.7% on year, tight financial conditions seen

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Hong Kong Q1 GDP expands 2.7% on year, tight financial conditions seen
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Islanders flock to Charlottetown Flea Market for affordable finds amid rising costs | SaltWireHONG KONG - Hong Kong's economic grew 2.7% in the first quarter on the year, official advance estimates showed on Thursday, driven by an increase in visitor arrivals and private consumption.

"Looking ahead, exports of services should be supported by further revival of inbound tourism alongside the continued recovery of handling capacity and the government's efforts to promote a mega event economy," a government spokesman said. "A longer period of tight financial conditions may have some dampening effects on economic confidence and activities," the spokesman said, adding changing consumption pattern of residents may also pose challenges to private consumption.

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