Friday, May 11, 2012

HK Growth Eases More Than Expected

HONG KONG (Dow Jones)--Hong Kong's economic growth slowed more than expected in the first quarter, hurt by the city's declining exports amid global market volatilities.

The government on Friday maintained its forecast for gross domestic product to grow between 1% and 3% this year and said the economic situation could turn around in the second half thanks to solid local consumption.

The territory's GDP for the three months ended March 31 rose 0.4% from a year earlier, slowing from the fourth quarter's 3.0% rise and undershooting the 1.4% median forecast of analysts polled ...

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