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GDP outlook raised as spending soars.
(From The Standard)
Byline: Lee Yuk-kei
Economists raised their forecast for Hong Kong's economic growth this year after faster-than-expected, second-quarter growth and the government's lifting of its official full-year projection to 7.5 per cent from 6 per cent. Credit Suisse First Boston (CSFB), Goldman Sachs, Morgan Stanley and DBS Bank (HK) raised their forecast on Monday to between 7 per cent and 7.7 per cent. HSBC and Merrill Lynch revised their forecasts to 7.8 and 8 per cent, respectively, on Friday.
``The strength in private consumption [in the second quarter] surprised us,'' CSFB said. Hong Kong's gross domestic product (GDP) jumped 12.1 …
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