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Hong Kong's economy grows at slower pace in 3rd quarter
2007-11-16 02:27:26 THE ASSOCIATED PRESS

HONG KONG -- Hong Kong's economic growth slowed in the third quarter, expanding 6.2 percent from the same period a year ago, the government said Friday.

Gross domestic product during the July-September quarter was slower than the 6.6 percent rate in the second quarter.

It was also slightly slower than the 6.5 percent growth projected by economists polled by Dow Jones Newswires.

On a seasonally adjusted basis, GDP rose 1.7 percent in the third quarter from the second quarter.

The government said it revised up its 2007 GDP growth forecast to 6 percent from 5-6 percent previously. It also revised its forecast rise in the consumer price index this year to 2.0 percent from its previous forecast of 1.5-2.0 percent.

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