- Q3 GDP was 3.1% y/y in Q2
- Q3 seasonally adjusted GDP up 0.7% q/q
- HK economy showed 'robust performance' in 3Q, government says
HONG KONG, Oct 31 (Reuters) - Hong Kong's economy expanded in the third quarter by a faster-than-expected 3.8% year-on-year, official advance estimates showed on Friday, growing for an 11th consecutive quarter.
That was a faster rate than the mean forecast of 3.1% year-on-year growth by 10 economists in a Reuters poll.
Hong Kong reported 3.1% economic growth in the second quarter and 3.0% growth in the first quarter of 2025.
"Looking ahead, the Hong Kong economy should see further solid growth for the rest of 2025," a government spokesman said.
"Sustained moderate growth of the global economy in the near term, together with the persistent stellar demand for electronics-related products of late, should provide further support to Hong Kong's exports of goods."
On a seasonally adjusted quarterly basis, the economy expanded 0.7% in July-September, the data showed. That compared with a (revised) 0.4% in April-June and 1.8% in January-March.
Overall investment expenditure rose, and total exports of goods grew markedly, the government said.
Private consumption expenditure increased by 2.1% in the third quarter, compared with a 1.9% growth in the second quarter and a fall of 1.2% in the first quarter.
Goods exports rose 12.2%, compared with an 11.5% jump in the second quarter and a 8.4% surge in the first quarter.
Imports of goods increased 11.7%, as compared with a 12.6% increase in the second quarter and a 7.2% surge in the first quarter.
Reporting by Hong Kong newsroom; Editing by James Pomfret and Christian Schmollinger and Mark Heinrich
Source: Reuters