| Abstract | Several sectors of the Hong Kong economy have undergone a consolidation during either the first or the second quarter of 1994.While the adjustment in the local property market is likely to continue in the coming months, most of the other sectors are expected to revive in activity and grow steadily. In particular, the continued growth in exports, private consumption and infrastructural development are expected to sustain economic growth in the second half of the year, keeping demand for labour strong and underlying inflation high. Rising interest rates may drag on the growth, but the impact should be moderate. Overall, the Hong Kong economy should maintain its momentum and real growth of 5% to 5.5% remains attainable. |
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