Q3 GDP expands 1.8 yy versus revised 3.2 in Q2
Q3 seasonally adjusted GDP down 1.1 qq
Economy should grow in remainder of year, government says

HONG KONG, Oct 31 Reuters Hong Kong39;s economy grew 1.8 in the third quarter yearonyear, official advance estimates showed on Thursday, expanding for a seventh straight quarter.

The result was slower than the mean forecast of 3.1 yearonyear growth by 11 economists in a Reuters poll, revised 3.2 growth in the second quarter and 2.8 in the first quarter 2024.

That compared to a 4.3, 4.2, 1.6 and 2.8 expansion in the fourth, third, second and first quarters of 2023, respectively.

The total exports of goods saw slower yearonyear growth alongside softening demand in some major markets, while private consumption expenditure continued to weaken amid changes in residents39; consumption patterns, the government said.

Looking ahead, the economy should continue to grow in the remainder of the year, a government spokesman said, adding monetary easing across major central banks and China39;s improved economic outlook following stimulus measures would provide support.

On a seasonally adjusted quarterly basis, the economy decreased 1.1 in JulySeptember, compared to a revised 0.3 increase in AprilJune and 2.5 growth in JanuaryMarch, the data showed.

Private consumption expenditure decreased by 1.4 in the third quarter, compared to a 1.6 drop in the second quarter and a rise of 1.2 in the first quarter.

Goods exports increased 3.9,…