By Chester Yung
Hong Kong's economy grew by a faster-than-expected 1.9% year-over-year in the third quarter, accelerating from the previous quarter's 1.7% expansion, partly buoyed by solid domestic demand as well as an increase in building and construction expenditure, the government said Friday.
The third-quarter growth rate was faster than the median 1.5% increase forecast by five economists polled by The Wall Street Journal.
On a quarter-to-quarter basis, gross domestic product expanded 0.6% in the latest period, weaker than the previous quarter's 1.5% increase.
Private consumption, which makes up about two-thirds of Hong Kong's GDP, rose 1.2% from a year ago during the quarter,up from a 0.5% expansion in the second quarter, the government said.
The government forecast the city's GDP to grow 1.5% this year after a 2.4% expansion in 2015.
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(END) Dow Jones Newswires
November 11, 2016 04:06 ET (09:06 GMT)
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