(Reported by Sing Tao Daily) The government announced the third quarter economic report yesterday. In the third quarter, the local GDP increased by 2.9 % year -on -year, which was slower from the increase in the previous quarter.EssenceThe government described the slowdown in Hong Kong's economic growth into a "environmental transformation". As the Sino -US trade war continued to heat up and the peripheral disadvantaged factors increased. It is expected that the economic growth of Hong Kong in the fourth quarter is slow.Adjust to 3.2 %.
The third quarter of Hong Kong's local GDP this year increased by 2.9 % year -on -year. The growth rate of the eighth consecutive quarter was higher than the average trend growth rate in the past ten years, but the growth rate of the previous quarter was slower.Government economic adviser Ou Xiong pointed out that the Sino -US trade war continued to have a significant impact on the global economic environment. The economic growth of Asian countries such as Singapore and South Korea declined, describing the slowdown in Hong Kong's economic growth into a "environmental transformation."
The government's forecast for economic growth throughout the year is 3.2 %, which is different from the three to four predictions announced in the previous quarter, showing that economic growth biases predict the lower limit.Ou Xixiong emphasized that the latest forecast figures are within the scope of the prediction of the previous season, explaining that as the adverse factors of peripherals increase, the business atmosphere of business in Hong Kong has become more cautious in recent months, and economic growth in the fourth quarter will slow down.
In terms of inflation, the pressure of consumer prices continued to increase, and the inflation rate of basic consumer prices rose to 2.8 %, which was 0.4 % from the previous quarter.Looking forward to the future, the government expects that the economy will continue to expand. In addition, the impact of the rise in new residential rents has gradually emerged.Essence
In the third quarter of Hong Kong's cargo exports increased by 5 % year -on -year, Ou Xiong pointed out that since the implementation of the Sino -US trade war, the increase in related re -export trade has gradually slowed down from August to September.The increase in the double digits slows down by about 4 % in September. "He said that the second tax collection list was implemented in September, so the economic data in the third quarter did not significantly reflect the effects of relevant measures. It is expected that next yearThe initial impact will be significantly significant. At the end of this year, there may be manufacturers to "catch up" to avoid taxes.
The exports from Hong Kong to most major markets have recorded to varying degrees of growth. The exports to India have grown the most. In the third quarter, the annual rising percentage is 14.3.3 %.At 7.1, the overall export of goods in Japan recorded a 7.8 % decline, mainly due to the slowdown in economic growth in Japan in the third quarter of Japan, and market demand fell.
In terms of the labor market, the unemployment rate continues to remain at 2.8 %. In order to have the lowest level in the past two decades, the employment insufficient rate rose slightly to 1 %, but it is still low.Household residents recorded 6.1 % percent of the monthly income of 6.1 %.
Asked if the Sino -US trade war continues to heat up, whether it will affect the forecast of economic growth next year, Ou Xixiong said that it must be observed depends on future development.He mentioned that the leader of the President of the State President at the end of this month and the US President Trump's meeting during the G20 summit may affect the trend of the trade war. "I hope to bring everyone a more happy result, but this is relatively difficult to predict."
