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Confidence slumps to 3-year low Public confidence in Hong Kong's economic
outlook has dropped to a three-year low in the wake of the world financial
turmoil, a Chinese University of Hong Kong poll of 820 people has found.
The result shows the number remaining optimistic about the economic
outlook has dropped to 40.4 percent from 52.4 percent in October last
year.
The university's Hong Kong Institute of Asia-Pacific Studies attributed
the drop in confidence to the volatility of the financial markets and the
slowdown in the world economy. It warned that public confidence in the
economy may have an impact on the popularity of the government. People's
confidence in the political situation fell 1.3 percentage points to 45.6
percent.
But support for Chief Executive Donald Tsang Yam-kuen has rebounded,
with 47.2 percent of respondents satisfied with his performance. That is
up 3.8 percentage points from six months ago.
A government survey, meanwhile, found people not so pessimistic on the
economy.
The Quarterly Business Tendency Survey released by the Census and
Statistics Department showed that many sectors expect their business
situation to be better in the second quarter of 2008, especially for the
manufacturing, import and export trade, transport and related services and
business services sectors.
Despite the global economic slowdown, the value of exports increased by
7.6 percent over a year earlier to HK$222.5 billion as recorded in
February. 2008-04-26 |
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