Hong Kong's third-quarter local gross domestic product is estimated to increase by 1.8% year-on-year.
The Census and Statistics Department of the Hong Kong government released the preliminary estimate figures for the third quarter of 2024 local Gross Domestic Product (GDP).
Hong Kong Inflation Cools in September
In September, Hong Kong's CPI rose by 2.2% year-on-year and by 2.5% month-on-month.
According to the comprehensive consumer price index, in September 2024, the overall consumer price in Hong Kong rose by 2.2% compared to the same month a year earlier, which is lower than the corresponding increase in August 2024 (2.5%).
Hong Kong Unemployment Fixed at 3% in Third Quarter
The Monetary Authority of Singapore has kept its monetary policy unchanged, stating that inflation risks are more balanced.
The Monetary Authority of Singapore (MAS) maintained its monetary policy unchanged on Monday as expected, as data showed an acceleration in economic growth in the third quarter. MAS stated that it will maintain the current rate of appreciation of the nominal effective exchange rate (S$NEER), a policy range based on exchange rates, with the width and midpoint of the policy range also remaining unchanged. MAS said in a statement, "Compared to three months ago, the risks to Singapore's inflation outlook are more balanced." "Singapore's growth momentum has picked up and the negative output gap is expected to close in the second half of 2024." as an economy heavily reliant on trade.
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