Hong Kong's third-quarter slowdown in GDP growth low unemployment rate held steady at 4.2%

Hong Kong - under strong domestic and external demand-driven, our third quarter, the economy is expected to continue to expand, but growth may have slowed in the second quarter.

Hong Kong's third-quarter gross domestic product (GDP) data is scheduled for 0830 GMT on Friday announced. Eight economists surveyed expected value is given, the Hong Kong or a third-quarter GDP growth of 5.9% over the same period, the growth rate of 6.5% in the second quarter slowdown.

Economists said the next few months, the job market will rebound and the strong performance of the tourism industry to promote strong domestic consumption growth in Hong Kong, which will continue to boost our economy, but the overall growth of the global economic slowdown, Hong Kong's fourth-quarter GDP growth rate may slow to 3.0% -3.5%.

Hong Kong's jobless rate held steady at 7-9 4.2%, more than 18 months to the low, strong employment growth, labor force expansion to offset the negative impact. 1-9 months of this year, to reach 2,620 tourists visited Hong Kong million, up 23.7% over the same period.

Calyon (Credit Agricole) Frances Cheung, a senior strategist, said third-quarter consumption and exports should remain strong, but inventory fluctuations; quarter economic slowdown is likely to slow down due to inventory accumulation .

HSBC (HSBC), said economist Donna Kwok, (from the United States) loose monetary conditions and imported from Mainland China (expenditures and investment) of the spillover effect, become a light engine of growth in Hong Kong within two key factors.

Kwok said the strong performance of Hong Kong's economy will appear to the end of 2010.

Standard Chartered Bank (Standard Chartered Bank) economist Simon Wong said that in the U.S. Federal Reserve Board (Federal Reserve) to implement the second round of quantitative easing measures in the context of the current low interest rate environment is expected to continue, this local asset for Hong Kong provide support and liquidity cycle, growth in domestic demand in 2011 should continue to benefit from it.

Hong Kong Government in August 2010, the year the local GDP growth forecast of 4% from the original estimate of -5% to 5% -6%. Last year, GDP contracted 2.8% in Hong Kong, since 1998 the local economy shrinking for the first time throughout the year.

The following is our third-quarter GDP, is expected to:

Movements of financial institutions increase over the same period (%)

Bank of East Asia 5.5%