Hong Kong’s economic growth slows to 3 percent in 2018

HONG KONG (Reuters) – Hong Kong’s economy grew 3 percent in 2018, the government said on Wednesday, slightly slower than its forecast, as a bruising trade war between Washington and Beijing weighs and poses greater risks to the city this year.

Financial Secretary Paul Chan, in his budget speech, forecast growth of 2-3 percent for this year.

The government said the fourth quarter expanded 1.3 percent from a year earlier.

Chan had said in a blog post this month the economy grew less than 1.5 percent in the fourth quarter against 2.9 percent growth in the previous three months. Some economists had estimated 2 percent annual growth, while the government had forecast 3.2 percent.

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