UBP downgrades Hong Kong GDP forecast

1 August 2019 | 1 minute read

UBP has downgraded its Hong Kong GDP growth forecast to 1.1% in 2019 (down from 1.4%) and 1.8% in 2020 (down from 1.9%), despite accommodative US and China central bank policies.  “The frequent mass protests have already severely hit local retail sales and tourist earnings,” said Anthony Chan, chief Asia investment strategist at UBP. “It will also impact local banking…

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