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The economy of Hong Kong has grown by the end of the third quarter by 2.9% in annual terms. Compared with growth of 3.5% in the previous quarter, its growth slowed down, official data showed. Analysts had expected a less significant slowdown - up to 3.3%. In quarterly terms, GDP increased by 0.1%, while a quarter earlier it showed a decrease of 0.2%. The growth of consumer spending fell to 5.2% from 6%, government spending - to 3.3% from 4.3%. The increase in exports by 5% was weaker than the growth in imports of goods by 7.6%. At the same time, in Hong Kong, there was an acceleration in the growth of investment in fixed assets - the figure in the third quarter jumped 8.2% after rising 1.1% a quarter earlier. September showed the weakest growth in retail sales for more than a year.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The outlook for India’s struggling economy has darkened further on weak business activities and surging virus cases. This will likely prompt the Reserve Bank of India to lower interest rates again, a Reuters survey showed. According ...
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