News Summary: HK economy grows 3.3 percent in 2Q

News Summary: Hong Kong economy gains a little speed on Chinese tourist spending in 2nd qtr

Associated Press

THE NUMBERS: Hong Kong's economy in the April-June period grew 3.3 percent over a year ago. On a seasonally adjusted basis, it grew 0.8 percent from the previous quarter.

TOURIST BOOST: Spending from tourists from mainland China and from Hong Kong residents helped the trade-reliant Asian financial center make up for weak global demand.

BACK STORY: Hong Kong is a major shipment hub for goods moving from mainland Chinese factories to markets overseas. The former British colony has prospered because of open markets and a busy port, but those factors also leave it vulnerable to the fluctuations of global trade.

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