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MENAFN - 18/11/2012

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(MENAFN) The Hong Kong Government stated that in the third quarter, the city-state's economic growth expanded by 1.3 percent from a year ago, reported Xinhua News.

From a quarter before, economy grew a seasonally adjusted 0.6 percent, compared with a drop of 0.1 percent in the second quarter.

Exports of goods grew 4 percent year-on-year in real terms, with exports of services gaining 0.1 percent over a year earlier.

The government's Third Quarter Economic Report 2012 showed that private consumption spending rose by 2.8 percent in real terms, whereas investment spending grew 8.7 percent.

Median employment earnings went up by 8.3 percent in nominal terms in the quarter from a year ago, which represents a 5.1-percent growth in real terms, after discounting inflation.

It is worth noting that Hong Kong's underlying consumer price inflation declined to 4 percent in the quarter.

 






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