 |
| No.8 August, 2010 |
|
| |
|
| |
Q2 GDP up 6.5% |
|
| |
|
|
| |
 Hong Kong’s economy has continued to press ahead as part of sustained global economic recovery, with Gross Domestic Product rising 6.5% in the second quarter of this year.
The result follows an 8% rise in the first quarter, marking the second quarter of above-trend growth for the Special Administrative Region.
Financial Secretary John Tsang said that on a seasonally adjusted quarter-to-quarter comparison, GDP grew 1.4% in the second quarter.
|
|
| |
|
|
| |
Total exports remained strong, rising 20.1% in real terms over the previous year, as Asian markets continued to outperform other markets by a wide margin.
Total exports to China showed double-digit year-on-year growth, even against a higher base of comparison in the second quarter. Exports to Taiwan, Japan, Korea and Singapore saw growth of 15% to 30%.
Services exports grew 16.9% over 12 months previously. In-bound tourism continued to benefit from the increase in Mainland Chinese visitors and the recovery in regional markets.
On a seasonally adjusted quarter-to-quarter basis, exports of services grew 0.8% in real terms in the second quarter.
Domestic demand was resilient, with private consumption spending up 4.6% year-on-year in real terms due to general improvement in the overall economic situation and incomes.
Investment spending rose 15.2%. Further growth in public-sector works boosted construction activity, while machinery and equipment acquisition also maintained strong momentum.
The underemployment situation improved, although the seasonally adjusted unemployment rate rose slightly, to 4.6% in the second quarter.
Inflationary pressure rose in the second quarter, as underlying consumer price inflation climbed to 1.5%. The forecast rate of the headline consumer price inflation remained unchanged at 2.3%.
The property sector notched up a mixed result with, with overall flat prices going up up 1.5% after a rise of 6.5% in the first quarter of 2010. Transactions in the second quarter fell 2.6% over the previous quarter.
|
|
| |
|
|
|
| |
 |
|
|
| |
|
|
|
| |
|
|
|
|
|
