February 27, 2019 / 3:33 AM / 8 months ago

Hong Kong's economic growth slows to 3 percent in 2018

Traffic is seen between office buildings at sunset in downtown Hong Kong, China June 29, 2017. Picture taken June 29, 2017. REUTERS/Bobby Yip

HONG KONG (Reuters) - Hong Kong’s economy grew 3 percent in 2018, the government said on Wednesday, slightly slower than its forecast, as a bruising trade war between Washington and Beijing weighs and poses greater risks to the city this year.

Financial Secretary Paul Chan, in his budget speech, forecast growth of 2-3 percent for this year.

The government said the fourth quarter expanded 1.3 percent from a year earlier.

Chan had said in a blog post this month the economy grew less than 1.5 percent in the fourth quarter against 2.9 percent growth in the previous three months. Some economists had estimated 2 percent annual growth, while the government had forecast 3.2 percent.

Reporting by Anne Marie Roantree and Twinnie Siu; Editing by Jacqueline Wong

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