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Amy Nip

The city's economy will see better growth this year, at about 2.9 per cent, according to a University of Hong Kong forecast.
The APEC Studies Programme of the Hong Kong Institute of Economics and Business Strategy at HKU expected the city's real GDP growth to be between 2.3 per cent and 3.3 per cent - marginally better than the estimated 2.4 per cent last year.
For the first quarter, there is expected to be 2.4 per cent growth as compared to the same period last year, due to a moderate recovery in global demand, especially in the United States.
The institute revised its estimate of real GDP growth for the last quarter of 2014 to 2.5 per cent, up from the previous estimate of 2.1 per cent, thanks to stronger-than-expected consumption.
"Despite the prolonged duration of the Occupy Movement (79 days), its impact on measurable economic activities (real GDP) appears negligible," the institute said.
But the changing external environment appeared to be a bigger worry for the economy than Occupy, it added.
Growing demand in the United States is expected to benefit Hong Kong exports. But the sluggish performance of Japan, weak demand from Europe and falling oil prices add uncertainty to the city's outlook this year.
George Leung Siu-kay, HSBC's adviser for Asia-Pacific strategy and economics, offered a grimmer outlook than HKU.
With little drive in the domestic market or external trade, he expected this year's economic growth to be only 2 per cent.
With GDP growth slowing down on the mainland, tourist expenditure in Hong Kong would be affected, he said. And the strong US dollar would also affect tourists' appetite for shopping.
Meanwhile, the HKU public opinion programme found that Hongkongers' net satisfaction with economic conditions stood at positive one percentage point, the first positive figure registered since June 2010.
Some 1,017 people were interviewed for the study by phone from December 19 to 30.
Net satisfaction with livelihood and political conditions continued to be negative, at negative 23 and negative 51 percentage points, respectively.


HKU report sees GDP rising 2.9 per cent this year amid global recovery

Growing demand in the United States is expected to benefit Hong Kong exports. 

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HKU expects a 2.9 per cent rise in GDP growth this year amid a recovery in global demand


The city's economy will see better growth this year, at about 2.9 per cent, according to a University of Hong Kong forecast.


HKU report sees GDP rising 2.9 per cent this year amid global recovery

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}HKU expects a 2.9 per cent rise in GDP growth this year amid a recovery in global demand

HKU expects a 2.9 per cent rise in GDP growth this year amid a recovery in global demand