Current Account in Hong Kong
Hong Kong - Current AccountEconomic momentum likely ticked up in Q1 2019 but remained feeble, after growth fell to a nearly three-year low in the previous quarter. The main positive development came from a rebound in the stock and property markets, which should support private spending. Nonetheless, the private-sector PMI remained mired in contractionary territory throughout the quarter, though its average reading slightly improved compared to Q4. Meanwhile, retail sales contracted over January-February, due largely to a slowdown in mainland tourist arrivals combined with lower spending per visitor. Finally, the labor market in February shed jobs for the first time since 2010, in a sign that private consumption could face pressures going forward. Looking at Q2, external factors should still drag on growth, but the picture is set to improve thanks to Chinese fiscal stimulus, a likely growth rebound in other advanced economies and a more dovish Fed.
Hong Kong - Current Account Data
|Current Account (% of GDP)||1.5||1.4||3.3||4.0||4.2|
5 years of economic forecasts for more than 30 economic indicators.
Hong Kong Current Account Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
|Bond Yield||1.63||3.38 %||May 10|
|Exchange Rate||7.85||-0.11 %||May 13|
|Stock Market||28,550||-1.92 %||May 10|
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May 6, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, rose to 48.4 in April from 48.0 in March.
May 3, 2019
Retail sales by volume fell 0.8% year-on-year in March, up from the 1.9% decline registered in the Lunar New Year period of January-February.
April 23, 2019
Inflation was stable at February’s 2.1% in March.
April 3, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, declined from 48.4 in February to 48.0 in March.
April 1, 2019
Retail sales by volume fell 10.4% in annual terms in February, markedly contrasting January’s 6.9% growth.