Q3 GDP: Hong Kong avoids recession

Nov 16 2012, 18:44 IST
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SummaryHong Kong's economy grew a seasonally adjusted 0.6 percent in the third quarter.

under pressure recently as funds unleashed by quantitative easing measures in the United States, Europe and Japan continue to pour into the city of more than 7 million people.

The Hong Kong Monetary Authority has intervened in currency markets to curb the strength of the Hong Kong dollar under the peg regime.

The government raised the forecast for full-year headline consumer price inflation to 3.9 percent from 3.7 percent, while underlying inflation was revised to 4.5 percent from 4.3 percent.

The headline CPI in September accelerated to 3.8 percent, but the government had said the austere economic environment and more moderate increases in import prices should help to contain inflation for the rest of the year.

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