HK Economy Forecast to Rebound in Second Half of 2002

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Last updated at: (Beijing Time) Tuesday, April 02, 2002

HK Economy Forecast to Rebound in Second Half of 2002

Hong Kong economy is expected topost modest increase in the second half of 2002 thanks to the continued economic recovery in the United States, according to an academic report released here Tuesday.

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Hong Kong economy is expected topost modest increase in the second half of 2002 thanks to the continued economic recovery in the United States, according to an academic report released here Tuesday.

"The rate of rebound is projected to be modest at around an annual rate of between one to two percent," said the report made by the University of Hong Kong.

The report predicted that Hong Kong economy would shrink by 1.5percent and 0.4 percent respectively in the first and second quarter of 2002.

The study is based on a system developed by the university in collaboration with Nobel Laureate Professor Lawrence Klein of the Wharton School of Business of the University of Pennsylvania.

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