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PACIFIC WATCH

Hong Kong

August 29, 1994|From Times Staff and Wire Reports

GDP Forecast Raised: The government is now forecasting that economic growth this year, as measured by gross domestic product figures, will be 5.7%. The figure, released in its half-yearly economic report, is based on a revised formula for calculation that takes into account structural change in the economy. Under the old formula, the government had been forecasting GDP growth of 5.5% for 1994. Using the new method, Hong Kong's GDP growth has been revised upward to 5.9% in 1993 from a previous estimate of 5.6%, and 6.0% in 1992 against 5.6% before.

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