Economic Overview - The overall local GDP in Hong Kong increased by 3.1% in Q1 2025 compared to the same period last year, up from a 2.5% increase in Q4 2024 [1] Service Sector Analysis - The total value added by all service activities rose by 2.6% in Q1 2025 year-on-year, compared to a 1.7% increase in Q4 2024 [1] - The value added by import and export trade, wholesale and retail industries increased by 4.2% in Q1 2025 year-on-year, contrasting with a 0.2% decline in Q4 2024 [1] - The accommodation and food services sector saw a decrease of 1.8% in value added in Q1 2025 year-on-year, following a 2.6% increase in Q4 2024 [1] - The transportation, warehousing, postal, and courier services sector's value added rose by 2.9% in Q1 2025 year-on-year, down from a 6.8% increase in Q4 2024 [1] - The information and communications sector's value added increased by 1.3% in Q1 2025 year-on-year, slightly down from a 1.5% increase in Q4 2024 [1] - The financial and insurance sector's value added rose by 4.4% in Q1 2025 year-on-year, compared to a 1.9% increase in Q4 2024 [1] Other Industries - The real estate, professional, and business services sector recorded a 0.3% decline in value added in Q1 2025 year-on-year, following a 1.7% increase in Q4 2024 [2] - The public administration, social, and personal services sector's value added increased by 1.7% in Q1 2025 year-on-year, down from a 3.0% increase in Q4 2024 [2] - The local manufacturing sector's value added rose by 0.7% in Q1 2025 year-on-year, compared to a 1.0% increase in Q4 2024 [2] - The electricity, gas, water supply, and waste management sector experienced a 1.4% decline in value added in Q1 2025 year-on-year, following a 3.0% increase in Q4 2024 [2] Construction Industry - The construction sector's value added declined by 1.9% in Q1 2025 year-on-year, following a 4.7% decrease in Q4 2024 [3]

Group 1 - The unemployment rate for January to March 2025, seasonally adjusted, remains at 3.2%, unchanged from December 2024 to February 2025 [1][2] - The underemployment rate also remains stable at 1.1% during the same period [1][2] - Total employment decreased from 3,709,500 in December 2024 to 3,692,700 in January to March 2025, a reduction of approximately 16,800 [1][2] Group 2 - The total labor force declined from 3,821,300 to 3,815,500, a decrease of about 5,800 [1][2] - The number of unemployed individuals increased from 111,700 to 122,800, an increase of approximately 11,100 [1][2] - The number of underemployed individuals rose from 40,700 to 42,700, an increase of about 2,000 [1][2] Group 3 - Unemployment rates varied across industries, with notable increases in the information and communications sector, social work activities, professional and business services (excluding cleaning services), and construction [1][2] - Conversely, the transportation and insurance sectors experienced declines in unemployment rates [2] - The government anticipates that external uncertainties due to trade tensions may affect hiring intentions in some industries, while domestic economic growth supported by government measures is expected to bolster labor demand [2]