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Hong Kong : Office Snapshot - Q2 2013

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Hong Kong : Office Snapshot - Q2 2013

The local economy expanded at a quickened pace in the first quarter of 2013, and indicators so far point to a sustained momentum through the close of the first half of 2013. However, recent news coming out of China and turbulent equity markets of late serve as reminders that recovery is still underway. The GDP growth in the first quarter of 2013 registered 2.8%, and the economy is forecast to expand by 3.3% this year. Should productivity and growth in China further deteriorate, Hong Kong’s economy will come under pressure and growth could fall short of this target. Through April, exports have shown an improved growth of 5.2% over the same period a year earlier. Meanwhile, retail sales growth amounted to 15.1% from January to April. With the U.S. Fed saying that it may begin easing stimulus measures this year, global equity markets slid in June. The Hang Sang Index dropped by more than 13%, its highest level during the second quarter, from 20 May to 20 June.

Source : Cushman & Wakefield

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