Standard Chartered cuts Hong Kong’s growth prospects through 2021 as US-China trade war puts the squeeze on city’s economy

//Standard Chartered cuts Hong Kong’s growth prospects through 2021 as US-China trade war puts the squeeze on city’s economy

Standard Chartered cuts Hong Kong’s growth prospects through 2021 as US-China trade war puts the squeeze on city’s economy

Standard Chartered, one of Hong Kong’s three currency-issuing banks, has lowered its economic growth forecast for the city through 2021 due to headwinds from a prolonged US-China trade war, the latest among several financial institutions to cut their outlook.Hong Kong’s gross domestic product (GDP) may grow 1.4 per cent in 2019, expand 2 per cent next year, and increase 2.3 per cent in 2021, the bank said. Earlier forecasts by the bank were 2.2 per cent growth in 2019, 2.6 per cent in 2020 and…

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By | 2019-07-18T09:00:14+00:00 July 18th, 2019|Business|Comments Off on Standard Chartered cuts Hong Kong’s growth prospects through 2021 as US-China trade war puts the squeeze on city’s economy