Current Account in Hong Kong
Hong Kong - Current Account
Economic growth fell to a two-year low in the third quarter on the back of slowing private and public spending, though investment growth picked up thanks to a low base effect. Consumption was weighed on by losses in equity and property markets in the quarter, which suffered notably from higher interest rates and a loss of confidence mainly related to trade tensions affecting the mainland. The waning momentum furthermore appears to have continued in Q4. The PMI dropped further into negative territory in November on weak Chinese demand, and business confidence for Q4 also slipped. Meanwhile, though the Hang Seng Property Index pared back some of its losses in recent weeks, the broader equity index largely continued on its downward trend. Additionally, although retail sales growth picked up in October from September’s two-year low, it was still much lower than the readings seen earlier this year. Both these factors suggest private consumption is again losing steam in Q4, while the souring trade environment is likely to dampen external demandHong Kong - Current Account Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Current Account (% of GDP) | 1.5 | 1.4 | 3.3 | 4.0 | 4.2 |
Hong Kong Current Account Chart
Source: Census and Statistics Department Hong Kong and FocusEconomics calculations.
Hong Kong Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 2.02 | 3.38 % | Jan 16 |
| Exchange Rate | 7.84 | -0.11 % | Jan 16 |
| Stock Market | 26,902 | -1.92 % | Jan 16 |
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Economic News
Hong Kong: PMI edges up in December but closes the year on a weak note
January 4, 2019
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), released by IHS Markit, rose from 47.1 in November to 48.0 in December.
Hong Kong: Retail sales growth slumps again in November amid signs of mainland slowdown
January 3, 2019
Retail sales by volume rose 1.2% in annual terms in November, sharply decelerating from the 5.3% revised growth print logged in October (previously reported: +5.2% year-on-year).
Hong Kong: Inflation inches down in November
December 20, 2018
Inflation ticked down marginally from 2.7% in October to 2.6% in November.
Hong Kong: PMI falls to nearly two-and-a-half year low in November on weak mainland demand
December 5, 2018
The Nikkei Hong Kong Purchasing Managers’ Index (PMI), which is released by IHS Markit, fell from 48.6 in October to 47.1 in November, marking the lowest print since June 2016.
Hong Kong: Retail sales growth recovers in October following September’s slump
November 30, 2018
Retail sales by volume expanded 5.2% in annual terms in October, picking up markedly from the feeble 1.4% increase recorded in September.
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