Current Account in Hong Kong
Hong Kong - Current Account
The economy seems to have remained downbeat in the second quarter, despite strengthening from Q1’s near one-decade low growth reading. The private sector PMI edged up from May’s near three-year low in June but remained in contraction, while retail sales contracted for the fourth month running in May. Meanwhile, though U.S.-China trade negotiations restarted on 29 June, the dispute could still escalate and looks set to drag on the economy at least until year-end. On the political front, recent large-scale protests against a proposed bill allowing extradition to China morphed into a broader pro-democracy uprising despite the bill being declared “dead” by Chief Executive Carrie Lam. Beijing has reportedly refused Lam’s resignation, making her a likely lame duck for the remainder of her tenure. The uncertainty and unrest are poised to hurt business and consumer sentiment.Hong Kong - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | - | - | - | - | - |
Hong Kong Current Account Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 1.63 | 3.38 % | Jul 11 |
| Exchange Rate | 7.82 | -0.11 % | Jul 11 |
| Stock Market | 28,432 | -1.92 % | Jul 11 |
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Economic News
Hong Kong: PMI edges up but remains in contraction for 15th month running in June
July 4, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, rose from 46.9 in May, the lowest reading since June 2016, to 47.9 in June.
Hong Kong: Retail sales contract for fourth consecutive month in May
July 2, 2019
Retail sales by volume fell 1.7% year-on-year in May, which was however an improvement from the 5.0% contraction logged in April.
Hong Kong: Inflation inches down in May
June 21, 2019
Inflation declined slightly to 2.8% in May, from 2.9% in April.
Hong Kong: PMI sinks to near three-year low in May
June 5, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, fell from 48.4 in April to 46.9 in May, the lowest reading since June 2016.
Hong Kong: Retail sales contract for third consecutive month in April
May 31, 2019
Retail sales by volume fell 5.0% year-on-year in April, worsening from the 0.8% contraction logged in March.
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