HK Q1 GDP Fastest in 6 years

Hong Kong’s economy grew at its fastest annual clip in six years in the first quarter, supported by a recovery in global trade, stronger economic activity in China and rising asset prices, Reuters reported. The GDP expanded by 0.7% quarter-on-quarter, above the median forecast of 0.5% in a poll of analysts. Year-on-year GDP growth was 4.3%, also beating expectations of 3.4% growth. While the latest quarterly expansion rate was down from the previous 1.2%, growth on the year rose from the prior 3.1% and remains well above the government’s projected range of 2%-3% for 2017.