Morgan Stanley lowers 2001 economic growth forecast from 3.8% to 3.2%

Morgan Stanley reduced the economic growth forecast in Hong Kong in Year 2001 from 3.8% to 3.2%.

Though the Q1 economic growth was higher than the market expectation, the fund house thought that it was necessary to re-value the all-year economic growth outlook considering the weak April export. It then downgraded the annual export growth rate from 8% to zero, while the economic growth forecast was lowered to 3.2%, still higher than the 3% set by the HKSAR government.

Meanwhile, S B Warburg maintained the 2.1% of annual economic growth in Hong Kong unchanged

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