HK GDP in Q3 fell 3.5 percent year-on-year

Friday, November 13, 2020

The gross domestic product decreased by 3.5 percent in real terms in the third quarter from a year earlier, compared with the decrease of 9 percent in the second quarter.

The fall was slightly higher than the previous estimation of 3.4 percent. The GDP fell for five consecutive quarters, the longest shrinking period since 1998.

On a seasonally adjusted quarter-to-quarter comparison basis, GDP increased by 2.8 percent in real terms in the third quarter of 2020 when compared with the second quarter.

For the first three quarters, the economy shrank 7.2 percent year-on-year.