Barring a resurgence of Covid, we expect Hong Kong's economy to recover in H2 on the back of eased restrictions and another round of consumption vouchers. A stimulus-driven pickup in Chinese growth over the coming months will serve in cushioning exports against slower global demand and prop up fixed investment. Nonetheless, rising interest rates and a weakening global growth outlook will be a drag in H2 and into 2023. We are maintaining our GDP growth forecast of just 0.1% in 2022 but have cut our 2023 forecast 0.6ppts to 4%.
Hong Kong SAR: economy is on the mend, but new Covid outbreaks still a riskForecast overviewRecent developmentsShort-term outlookkey drivers of our Short-term Forecastrisk warningsWhat to watch out forExposure to key global risksLong-term prospectsBackgroundEconomic developmentStructure of the economyBalance of payments and Structure of tradePolicypolitics
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook