The University of Hong Kong expects the city's economic growth to stand at lower than 2 percent this year. The university says large falls in exports and investment will drag on overall economic growth despite rising private consumption and public expenditures.
Hang Seng Bank sees 2016 growth at 2.4%. The bank says falling global oil prices will help lift Hong Kong's economy and reduce inflation pressures. The bank also says that financial market volatility may dampen the business climate and consumer confidence, clouding the city's economic outlook.
Citi Bank is forecasting Hong Kong's GDP to grow 2 percent. The lender says mild global trade and a slowdown in inbound tourist numbers will add pressure on Hong Kong's economic sectors and push up the jobless rate. However, Citi Bank says the economy is unlikely to tank thanks to the implementation of large infrastructure projects.
