By Twinnie Siu and Donny Kwok
HONG KONG (Reuters) -Hong Kong’s economy grew 1.5% in the second quarter from a year ago, slowing from 2.9% in the first quarter as demand for exports weakened and investment spending fell, official seasonally-adjusted data showed on Friday.
The second quarter figure was the same as preliminary estimate made in July, when the first quarter figure was revised.
Hong Kong has now posted two consecutive quarters of growth but is expanding more slowly than the 3.6% year-on-year forecast by economists polled by Reuters.
The government has revised its growth forecast for this year to 4.0% to 5.0% from a range of 3.5-5.5% earlier.
The economy shrank 3.5% in 2022.
Adolph Leung, a government economist said in a statement that the difficult global economic environment would continue to weigh on exports, but “inbound tourism and private consumption will remain the major drivers of economic growth for the rest of the year.”
“Improved labour market conditions and the…
