/ world today news/ Hong Kong’s economy continues to recover in the third quarter of this year, recording growth of 4.1 percent on an annual basis. This comes after the April-June period saw growth of 1.5 percent. The growth is mainly supported by incoming tourism and the stabilization of consumption in the special region.
Private consumption spending jumped 6.3 percent year-on-year in the third quarter, while total investment spending rebounded sharply by 18.4 percent, the result of a low base from the prior period. The labor market is also improving, with lower unemployment rates.
Inbound tourism and private consumption will continue to support economic growth for the rest of the year, experts said. At the same time, inflation is expected to remain low in the short term and is unlikely to exceed 2.4% for the year as a whole.
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