Core Viewpoint - Hong Kong's economy showed robust growth in the third quarter of 2025, with a real GDP increase of 3.8% year-on-year, driven by strong export performance and expanding domestic demand [1][2]. Group 1: Economic Performance - The third quarter saw private consumption expenditure rise by 2.1% year-on-year [1]. - Government consumption expenditure, as defined by national economic accounting, increased by 1.6% year-on-year [1]. - Overall investment expenditure accelerated due to economic expansion and stabilization in the residential property market [1]. Group 2: Trade and Exports - Total goods exports rose by 12.2% year-on-year, while total goods imports increased by 11.7% [1]. - Strong demand for electronic-related products and active regional trade contributed to significant growth in overall goods exports [1][2]. Group 3: Services Sector - Service output increased by 6.1% year-on-year, while service input rose by 2.6% [1]. - The growth in service output was primarily supported by the continued increase in tourism and active cross-border financial activities amid rising global stock markets [1]. Group 4: Future Outlook - The outlook for Hong Kong's economy remains positive, with expectations of further steady growth in the remaining months of the year [2]. - Continued strong demand for electronic products and increasing visitor numbers are expected to support both goods and service exports [2]. - Improvements in consumer confidence and business sentiment, along with government measures to diversify the economy, are anticipated to bolster local consumption and investment activities [2].

Core Viewpoint - The Hong Kong economy is expected to continue its robust growth for the remainder of 2025, driven by strong export performance and expanding domestic demand [1][5]. Economic Growth - In Q3 2025, Hong Kong's real GDP grew by 3.8% year-on-year, an increase from 3.1% in Q2 [1]. - Seasonally adjusted, the real GDP rose by 0.7% compared to the previous quarter [1]. Consumption and Investment - Private consumption expenditure increased by 2.1% year-on-year in Q3, up from 1.9% in Q2 [1]. - Government consumption expenditure recorded a real increase of 1.6% year-on-year in Q3, down from 2.5% in Q2 [1]. - Local fixed capital formation rose by 4.3% year-on-year in Q3, following a 1.9% increase in Q2 [1]. Trade Performance - Goods exports saw a real increase of 12.2% year-on-year in Q3, compared to 11.5% in Q2 [1]. - Goods imports rose by 11.7% in Q3, down from 12.6% in Q2 [1]. Service Sector - Service output increased by 6.1% year-on-year in Q3, following an 8.6% rise in Q2 [2]. - Service input grew by 2.6% in Q3, compared to 7.3% in Q2 [2]. - The tourism sector and active cross-border financial activities supported the expansion of service output [3]. Future Outlook - The government anticipates further economic growth due to moderate global economic growth and strong demand for electronic products, which will support goods exports [5]. - An increase in visitor arrivals and active financial market activities are expected to boost service exports [5]. - Local consumption and investment activities are likely to be supported by the recovery of consumer confidence and recent interest rate cuts by the U.S. [5]. - Retail sales value for the first nine months of the year showed a temporary decline of 1.0% year-on-year, but September recorded a 5.9% increase, marking the fifth consecutive month of growth [5].

Core Viewpoint - Hong Kong's GDP experienced a year-on-year growth of 3.8% in Q3 2025, an increase from 3.1% in Q2 2025, driven by strong export performance and expanding domestic demand [1][3]. Economic Performance - The local GDP in Q3 2025 rose by 3.8% compared to the same period last year, while the previous quarter's growth was 3.1% [1][3]. - Private consumption expenditure increased by 2.1% year-on-year in Q3 2025, up from 1.9% in Q2 2025 [1]. - Government consumption expenditure recorded a 1.6% increase year-on-year in Q3 2025, down from 2.5% in Q2 2025 [1]. Investment and Trade - Gross fixed capital formation rose by 4.3% year-on-year in Q3 2025, following a 1.9% increase in Q2 2025 [2]. - Merchandise exports saw a significant increase of 12.2% year-on-year in Q3 2025, compared to 11.5% in Q2 2025 [2]. - Merchandise imports increased by 11.7% year-on-year in Q3 2025, slightly down from 12.6% in Q2 2025 [2]. Service Sector - Service output grew by 6.1% year-on-year in Q3 2025, following an 8.6% increase in Q2 2025 [2]. - Service input rose by 2.6% year-on-year in Q3 2025, down from 7.3% in Q2 2025 [2]. Future Outlook - The Hong Kong economy is expected to continue its robust growth for the remainder of 2025, supported by moderate global economic growth and strong demand for electronic products [4]. - The increase in visitor arrivals and active financial market activities are anticipated to further boost service exports [4]. - Local consumption and investment activities are expected to be supported by improved consumer confidence and government measures to diversify the economy [4].