Hong Kong's economy grew at slowest pace in Q1 since a contraction in 2012, driven by weakness in exports; GDP expanded 0.2% from Q4 2013, less than 0.4% economists had predicted

, May 16, 2014 () – Hong Kong’s economy grew in the first quarter at the slowest pace since a contraction in 2012 because of weakness in exports.

Gross domestic product expanded 0.2 percent from the previous three months, the government said in a statement on its website today. That was less than the 0.4 percent estimate in a Bloomberg News survey of 11 economists.

Hong Kong’s government maintained a forecast for a full- year expansion of between 3 percent and 4 percent, betting that a strengthening global economy will provide more support in the second half of 2014. China’s slowdown is adding to risks for the neighboring city.

Today’s growth figure was the lowest since a 0.1 percent contraction in the second quarter of 2012.

To contact the reporter on this story: Paul Panckhurst in Beijing at ppanckhurst@bloomberg.net To contact the editors responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net Tan Hwee Ann

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