The Hong Kong economy advanced 1.3 percent year-on-year in the December quarter of 2018, easing from a downwardly revised 2.8 percent growth in the previous period. It was the weakest pace of expansion since the March quarter 2016, amid a marked slowdown in private consumption and a slump in fixed investment. Considering 2018 the whole year, the economy grew by 3 percent, less than than the government's forecast of 3.2 percent and after a 3.8 percent expansion in the preceding year. For 2019, the government expects the economy to grow between 2 to 3 percent. On a quarterly basis, the economy contracted 0.3 percent in the three months to December, compared to a 0.1 percent growth in the prior quarter. GDP Annual Growth Rate in Hong Kong averaged 5.22 percent from 1974 until 2018, reaching an all time high of 20.70 percent in the fourth quarter of 1976 and a record low of -8.10 percent in the third quarter of 1998.
GDP Annual Growth Rate in Hong Kong is expected to be 2.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Hong Kong to stand at 2.50 in 12 months time. In the long-term, the Hong Kong GDP Annual Growth Rate is projected to trend around 2.10 percent in 2020, according to our econometric models.