HK economy grows 2.8% (10.5.2013)

Hong Kong's economy grew 2.8% in real terms year-on-year in the first quarter. On a seasonally adjusted quarter-to-quarter comparison, real GDP expanded by 0.2%. Announcing the figures today, Government Economist Helen Chan said the modest growth was mainly backed by a relatively resilient domestic sector, while the external sector is still facing an unsteady global economic environment. Declines were recorded in exports to advanced markets like the US, Europe and Japan, but solid growth in both the Mainland and some other Asian markets resulted in exports of goods rising by 8.8% in real terms. She said the strong growth was also largely due to a surge in exports of non-monetary gold. ( http://j.mp/13mxzyg )