Hong Kong's Strong Boom Continues

The boom in the world's freest economy seems to have continued in August as exports increased 36% (while imports rose 28.4%) while at the same time, real retail sales rose by as much as 14.7% compared to a year earlier.

While total GDP growth is probably not as high as these numbers suggest, as that also depends on government consumption, non-retail sales private consumption, fixed investments and inventory changes, it does nevertheless imply that it is likely that growth in Hong Kong accelerated during the third quarter.