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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
Hong KongHong Kong GDP Growth Rate YoY Adv climbed to 3.3% in April 2024
FMPQuarterlyReleased July 2024
Hong Kong GDP Growth Rate YoY Adv climbed to 3.3% in April 2024, released July 2024, up 0.5% from March's 2.8% reading. The print exceeded the 2.7% consensus by 0.6%. The print is running well above the 12-month average of 1.4%.
Latest Release
3.3
Actual
2.7
Consensus
2.8
Previous
Median Absolute Error
±1.1 percentage points
across last 11 releases
Last Call
Jul 2024
Predicted: 3.6
Actual: 3.3
Error: +0.3
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 YoY Adv (Hong Kong) was reported at 3.3% in July 2024. This beat the market consensus of 2.7% by 0.6%. The reading rose from the previous value of 2.8%. This is classified as a medium-impact indicator released on a quarterly basis.
WHY IT MATTERS
The trailing three releases averaged 3.43%, up from the prior three at 2.77%.
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 1.1%.
Auto-generated from current model state · Refreshes on each release · Last update July 2024.
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GDP Growth Rate YoY Adv - HK
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About GDP Growth Rate YoY Adv — Hong Kong
DEFINITION
The GDP Growth Rate YoY Adv is a key financial indicator that measures the annual percentage change in a country's gross domestic product (GDP). It provides valuable insights into the overall health and performance of an economy, as a higher growth rate indicates a stronger and more robust economy. This indicator is closely monitored by investors, policymakers, and businesses as it can impact investment decisions, government policies, and consumer confidence. A positive GDP Growth Rate YoY Adv is generally seen as a sign of economic growth and stability, while a negative growth rate may signal a potential economic downturn.
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 3.3 %, consensus 2.7 %. Prior reading (Jan 2024): 2.7 %. Before that (Oct 2023): 4.3 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a lower reading versus the latest print, with the 3-month outlook diverging from that direction. The 1-month and 3-month horizons disagree, suggesting a mixed signal. Trend-driven dynamics are the primary headwind in the current projection.