GDP in Hong Kong sees sharp incline during second quarter of 2016
The economy in Hong Kong has finally experienced a period of sustainable growth after a four-year slump and record lows at the start of the year.
GDP contraction took place amounting to 1.6% between the months of April and June this year, compared to the same period in 2015. Growth of only 0.6% was experienced in the first quarter of 2016 which has been the weakest growth experienced since 2012.
The sharp rebound was mainly stimulated by a surge in exports.
Mr Andrew Au, a Hong based government economist, has publicly stated that local exporters in Asia have profoundly benefited from a growing global economy.
The government has maintained its annual economic growth forecast of somewhere between 1 and 2%.
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