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Watch onHONG KONG - Hong Kong's economic growth accelerated in the third quarter to 4.1% from a year earlier, official advance estimates showed on Tuesday, as inbound tourism and private consumption supported a revival.
"Inbound tourism and private consumption will continue to underpin economic growth for the rest of the year," a government spokesman said. Private consumption expenditure increased by 6.5% in the quarter as compared to 7.7% growth three months earlier, helped by a surge in visitor arrivals. "The big picture remains more or less the same as the external environment is still challenging and interest rates are elevated," said Thomas Shik, chief economist at Hang Seng Bank."These continue to weigh on trade and investment."
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