Economic Update
2018/08/14Dark clouds looming
The Hong Kong economy expanded by 3.5% year-on-year (in real terms) in the second quarter of 2018, following a 4.6% growth in the first quarter. It was also the seventh consecutive quarter of growth that was above the average annual growth rate of 2.7% over the past ten years (Figure 1).
2018/07/30Why a further RMB depreciation might do more harm than good
The renminbi (RMB) has tumbled in recent months. Since the start of June, it has lost more than 5% against the greenback.
2018/06/13Will Higher Interest Rates Mean a Stronger Dollar?
At its June meeting, the U.S. Federal Reserve is expected to raise interest rates by 25 basis points to a range of 1.75% to 2%, marking the seventh rate hike since December 2015. A common belief is that higher interest rates make a currency more attractive to investors, thereby pushing up the demand for the currency and thus its value.
2018/05/15First Quarter GDP Growth Beats Expectations
Hong Kong’s economy got off to a vibrant start in 2018 with GDP growth of 4.7% over a year earlier, according to preliminary figures released on 11 May.
2018/05/04Retail Sees Double-digit Growth
Hong Kong retailers have had a strong first quarter in 2018 with sales up 14.3% on the same period last year, according to figures released by the Census and Statistics Department on 3 May.
2018/04/20Beware of Discussions with Other Organisations on Employment Costs
Businesses seeking to control their salary and other employee-related costs through discussions with other businesses are at risk of committing a serious infringement of the Competition Ordinance (CO), according to guidelines issued recently by Hong Kong’s Competition Commission.
2018/03/16Impact of U.S. Rate Hikes
Federal Reserve Chairman Jerome Powell painted a relatively optimistic picture of the U.S. economy in his recent report to Congress, which markets interpreted as a hint that more interest rate hikes are on the cards. It was his first public appearance since he took over from Janet Yellen as head of the U.S. central bank in early February.
2018/03/07Exports, Imports Jump in January
Hong Kong’s exports and imports both saw marked growth in January, according to the latest figures from the Census and Statistics Department.
2018/02/08Retail Recovery Beds In
Retail sales in December increased solidly compared with a year earlier, according to the latest figures released by the Census and Statistics Department, continuing a recovery that bodes well for the sector in 2018.
2018/01/10Keeping Credit Under Control
After years of robust credit growth in the Mainland, the authorities may become more active in reducing the highly leveraged nature of the Chinese economy in 2018. The deleveraging process will likely proceed with the introduction of policy measures targeted at reducing the reliance on debt.
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