HK's Economy Expected to Grow in 2nd, 3rd Quarters

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Last updated at: (Beijing Time) Thursday, July 04, 2002

HK's Economy Expected to Grow in 2nd, 3rd Quarters

Hong Kong's economy is expected to reverse the downward trend to see growth in the second and third quarter this year, according to the latest research of University of Hong Kong.

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Hong Kong's economy is expected to reverse the downward trend to see growth in the second and third quarter this year, according to the latest research of University of Hong Kong.

The real GDP is estimated to increase by 0.9 percent in the second quarter of 2002 on a year-on-year basis, compared to the 0.9 percent drop in the first quarter. In the current quarter, real GDP is forecast to grow by an annual rate of 1.5 percent.

The High Frequency Macroeconomic Forecast was carried by the APEC Study Center of The University of Hong Kong, with its system developed in collaboration with Nobel Laureate Professor Lawrence Klein of the Wharton School of Business of University of Pennsylvania.

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