HONG KONG: Hong Kong’s economy posted its fastest growth in more than a decade in the first quarter, though the recovery is an uneven one led mainly by exports and held back by weak consumer spending and a slow vaccine rollout.
After declining for a record six quarters, gross domestic product surged 7.8% from a year earlier, advance data showed, beating all estimates in a Bloomberg survey of economists.
The figures were partly distorted by the low base a year ago when the economy was in lockdown, but the quarter-on-quarter expansion, a better reflection of growth momentum, also outperformed.
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