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Hong Kong – 2Q GDP
10/08/2018 05:23 pm MYT
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In 2Q 2018, Hong Kong’s real GDP grew by 3.5% on a year-on-year basis, a slower pace compared with the growth rate in 1Q 2018 – see figure 1. Government consumption grew at a faster pace, while private consumption reported a slower growth rate – see table 1.

The exports and imports of goods expanded 4.6% and 6.3% respectively from a year ago. Meanwhile, the exports of services recorded a year-on-year growth of 6.1%, lower than that of the preceding quarter (7.9%).

In the near term, Hong Kong is expected to continue to benefit from the strong global economy and economic performance in mainland China. Domestic demand should also stay resilient due to favourable labour market conditions. However, the US-China trade war and US interest rate normalisation pose downside risks to the Hong Kong economy.

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Note from Publisher
Despite being a multi-racial, multi-cultural, and multi-religious society, Malaysia has largely been a peaceful country. This is a great achievement in light of a world that is being ravaged by multiple conflicts. Unfortunately, certain individuals and groups have hated this precious social fabric of the country and are making every effort to tear it apart. People say “you never know what you have until you lose it”. We really hope these selfish and irresponsible people will come to their senses before it is too late.

Nevertheless, it is heartening to see that the Malaysian media and civil society organisations have collectively launched a campaign called “Maaf Zahir Batin Hari Hari” or known as #MZB365 to help heal a dividing Malaysia. Carrying the meaning of “please forgive my wrongs, both thoughts and deeds”, the campaign will run for one whole year. This initiative could not have come at a better time. We believe the majority of Malaysians still treasure the country’s unique social fabric. With #MZB365, hopefully the silent majority can have a bigger voice to counter the destructive noises of the divisive minority.
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