Retail in Asia

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HK 1Q GDP up 0.4pc qtr/qtr

Hong Kong’s economy expanded by 0.4 percent in the first quarter ended March from the previous quarter on a seasonally adjusted basis, with growth slowed by a lull in exports amid a difficult external economic environment.

Economists have warned that Hong Kong’s small and open economy faces headwinds in coming months from slower exports, softer consumption and broader concerns over China’s slowing economic growth and the debt crisis in Europe, two of its biggest trading partners.