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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
Hong KongHong Kong GDP Growth Rate QoQ Adv fell to 0.4% in Q2 2024
FMPQuarterlyReleased July 2024
Hong Kong GDP Growth Rate QoQ Adv fell to 0.4% in Q2 2024, released July 2024, down 2.1% from March's 2.5% reading. The print exceeded the 0.3% consensus by 0.1%. The print is running well above the 12-month average of 0.22%. GDP Growth Rate QoQ Adv is now the lowest in 6 months.
Latest Release
0.4
Actual
0.3
Consensus
2.5
Previous
Median Absolute Error
±1.4 percentage points
across last 11 releases
Last Call
Jul 2024
Predicted: 1
Actual: 0.4
Error: +0.6
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| USD/JPY | ▼ Inverse | −0.30 | FOREX | Watch | → View |
| XAU/USD | ▲ Direct | +0.30 | COMMODITIES | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
| BTC/USD | ▲ Direct | +0.30 | CRYPTO | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
GDP Growth Rate QoQ Adv (Hong Kong) was reported at 0.4% in July 2024. This beat the market consensus of 0.3% by 0.1%. The reading fell from the previous value of 2.5%. This is classified as a medium-impact indicator released on a quarterly basis.
WHY IT MATTERS
The trailing three releases averaged 1.07%, down from the prior three at 1.37%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with BTC/USD (Watch). A secondary relationship exists with USD/JPY, negatively correlated (Watch). Over the last 11 releases, the Sigmacast model's median absolute error is 1.4%.
Auto-generated from current model state · Refreshes on each release · Last update July 2024.
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GDP Growth Rate QoQ Adv - HK
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About GDP Growth Rate QoQ Adv — Hong Kong
DEFINITION
The GDP Growth Rate QoQ Adv is a key economic indicator that measures the quarterly change in a country's gross domestic product (GDP). It provides valuable insights into the overall health and performance of an economy, as well as its short-term growth trajectory. This indicator is closely monitored by investors, policymakers, and businesses to make informed decisions and assess the current state of the economy. A positive GDP Growth Rate QoQ Adv indicates a growing economy, while a negative rate suggests a decline.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2024): actual 0.4 %, consensus 0.3 %. Prior reading (Jan 2024): 2.3 %. Before that (Oct 2023): 0.5 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.