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Hong Kong to stop deflation in 2nd half
(Agencies)
Updated: 2004-08-05 16:44

Hong Kong Chief Executive Tung Chee Hwa predicts that Hong Kong could shake off deflation in the second half of this year.

He says the region's economy has recovered rapidly, with first quarter GDP increasing by 6.8 percent over the same period last year and the unemployment rate dropping from 8.7 percent to 6.9 percent.

Tung Chee Hwa attributes the recovery to growth of foreign trade and the logistics industry.

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