Latest News:  
Beijing   Cloudy    2 / -5   City Forecast

People's Daily Online>>China Business

HK's GDP to grow 2.9 pct in 2012

(Xinhua)

09:18, December 13, 2011

HONG KONG, Dec. 12 (Xinhua) -- Hong Kong's GDP growth is expected to ease to 2.9 percent in 2012 from 5 percent tipped in 2011, Standard Chartered forecast on Monday.

We see the risk of a small GDP contraction in the fourth quarter of 2011 and the first quarter of 2012 in seasonally-adjusted quarter-on-quarter terms, assuming U.S. growth will be depressed but still positive, the recession in Europe will be shallow and China will achieve a soft landing, StanChart economist Kelvin Lau said on Monday's news conference.

Inflation is expected to peak in the fourth quarter of 2011, and its downtrend, which is to be led by lower food inflation, will become more evident throughout 2012, Lau said.

Hong Kong inflation will be at 3.5 percent in 2012 from 5.2 percent tipped in 2011, he added.

As for the local residential property market, Lau said the transaction volumes will stay low and the prices will stay volatile as both buyers and sellers remain cautious.

 
 
 
 
We Recommend
 
 
 

Email|Print|Comments(Editor:王莉莉)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Nearly 9 years on, US withdraws from Iraq

  2. 1st twin giraffes celebrate birthday

  3. Scuba divers welcome bowmouth guitarfish at aquarium in Hungary

  4. Consumers throng to shops for coming Christmas in Rio

Most Popular

Opinions

  1. Growth moderation not "bad thing" for China
  2. Risks behind India's military buildup
  3. 2011: Year of government micro-blogs
  4. Chance of RMB devaluation small
  5. Narrow vision limits China's discourse power
  6. Dubai chasing Singapore's strictness with violations
  7. Too early to loosen China's property controls
  8. Do not let disputes taint Sino-Korean ties
  9. The natural way to pick your stocks
  10. China must retain its strengths as it goes global

What's happening in China

2nd Airbus A380 arrives in Beijing

  1. Property prices in big cities declining
  2. More Chinese cities see housing price decline
  3. Drought snags shipping on rivers in S China
  4. Gas explosion kills 9 in central China coal mine
  5. Beijing reaches annual "blue sky days" target

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance