HK Manufacturers Give Bleak Export Outlook

Wage inflation, escalating trade frictions, and a stronger yuan are likely to slow down the growth of Hong Kong's exports, reports the South China Morning Post.

 

Citing a Hong Kong Trade Development Council (HKTDC) quarterly poll, the Post says manufacturers expect exports to dip 56.2 in the third quarter of this year from 59.1 in the second quarter.

 

Manufacturers are less confident about the third-quarter outlook because of various factors, including China's trade disputes with U.S. and the European Union. A strengthening yuan is also threatening the export sector. Economist cited by the Post says that a 10% rise in the yuan exchange rate against the U.S. dollar increase manufacturers' costs by 3% to 5%.

 

 

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