By Stephanie Wong
Sept. 5 (Bloomberg) -- Goldman Sachs Group Inc. cut Hong Kong growth forecasts for 2008 and 2009 as it expects consumption growth to slow more than earlier predicted amid a softer labor market.
It cut 2008 and 2009 growth forecasts to 4.2 percent and 4 percent from 5.2 percent and 5 percent, it said in a report dated today. Hong Kong will escape recession because of negative real interest rates, the report said.
To contact the reporter on this story: Stephanie Wong in Hong Kong at swong139@bloomberg.net
Friday, September 5, 2008
Hong Kong Growth Forecasts Cut for 2008, 2009 at Goldman Sachs
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