February 27, 2019
HONG KONG (Reuters) – Hong Kong’s economy grew 3 percent in 2018, the government said on Wednesday, slightly slower than its forecast, as a bruising trade war between Washington and Beijing weighs and poses greater risks to the city this year.
Financial Secretary Paul Chan, in his budget speech, forecast growth of 2-3 percent for this year.
The government said the fourth quarter expanded 1.3 percent from a year earlier.
Chan had said in a blog post this month the economy grew less than 1.5 percent in the fourth quarter against 2.9 percent growth in the previous three months. Some economists had estimated 2 percent annual growth, while the government had forecast 3.2 percent.
(Reporting by Anne Marie Roantree and Twinnie Siu; Editing by Jacqueline Wong)