UBS has raised its 2025 economic growth forecast for Hong Kong to 2.2%, citing easing Sino-US trade tensions and stronger market sentiment, The Standard reported Wednesday, citing the bank.
William Deng Weishen, senior Asia and China economist at UBS Investment Bank, said the new forecast is up from a previous estimate of 1% and slightly above the market consensus of 2%.
The revision follows stronger-than-expected first-quarter GDP data, a 90-day pause in the US-China tariff war, ongoing financial market momentum, and a rebound in tourist arrivals during the May Day holiday, the report said.
UBS said a significant reescalation in the US-China tariff war could prompt a downgrade of its forecast, with upcoming trade negotiations between the two sides a key factor to watch, according to the report.
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