
Hong Kong Economic Outlook
June 21, 2022
After shrinking at the sharpest pace since 2020 in Q1 2022 due to soaring Covid-19 cases and tough ensuing restrictions, the economy is enjoying a strong rebound in Q2. Covid-19 cases have tumbled since their March peak, allowing for the progressive rollback of restrictions, and the distribution of HKD 5,000 (around USD 635) consumption vouchers to citizens in April is further aiding private spending. Looking at available indicators, retail sales surged year on year in April, while the private-sector PMI rose to an over decade-high in May. However, ongoing quarantine requirements continue to hamper tourism and the city’s international competitiveness. Moreover, in mid-June, testing requirements were reintroduced for entry to bars and clubs in response to a slight uptick in cases, raising the specter of a broader snapback of restrictions ahead.Hong Kong Economic Growth
GDP growth will be tepid this year due to the impact of the pandemic at home and in mainland China. That said, government stimulus spending should provide some support, with a second batch of consumption vouchers to be issued in August. A more restrictive political environment and lingering Covid-19 measures pose risks to long-term competitiveness and investment. The FocusEconomics panel projects the economy to grow 1.0% in 2022, which is down 0.1 percentage points from the previous month’s forecast. In 2023, the panel sees growth at 3.8%.Hong Kong Economy Data
Sample Report
5 years of Hong Kong economic forecasts for more than 30 economic indicators.
Sample Report
Get a sample report showing our regional, country and commodities data and analysis.
Hong Kong Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 1.82 | 3.38 % | Dec 31 |
Exchange Rate | 7.79 | -0.11 % | Jan 01 |
Request a Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
Hong Kong Economic News
-
Hong Kong: Inflation increases in December
January 20, 2023
Inflation edged up to 2.0% in December, above November’s 1.8%, amid faster price rises for food and transport.
-
Hong Kong: PMI picks up in December but stays downbeat
January 5, 2023
The S&P Global Purchasing Managers' index (PMI) came in at 49.6 in December, up from November's 48.7.
-
Hong Kong: Retail sales contract at sharpest pace since March in November
January 4, 2023
Retail sales plunged 5.3% year on year in November (October: +2.5% yoy), confounding market expectations for an increase.
-
Hong Kong: Private sector PMI eases in November
December 5, 2022
The S&P Global Purchasing Managers' Index (PMI) fell to 48.7 in November from October's 49.3.
-
Hong Kong: Retail sales rebound in October
December 1, 2022
Retail sales rose 2.4% compared to the same month of the previous year in October, which contrasted September's 1.3% decrease.