New data GDP Growth Rate QoQ (Q3)

10/31/2024

actual -1.1, previous 0.4

The event is the release of the GDP Growth Rate Quarter-over-Quarter (QoQ) for the third quarter in Hong Kong (HK). The actual GDP growth rate for the quarter was -1.1%, which indicates a contraction in the economy. This figure represents a significant decrease from the previous quarter's growth rate of 0.4%. The estimate for this quarter was 0%, meaning that the actual result fell below expectations.

Given the negative growth rate, this event is likely to have a medium impact on the HKD currency and the overall economic sentiment in Hong Kong. A decrease of 1.5 percentage points from the previous quarter's growth rate indicates a notable decline in economic performance. Investors and analysts may interpret this data as a sign of economic weakness in Hong Kong, which could influence trading activity and market expectations for the future.

This is not investment advice. Remember to verify the information provided here.