Agencies and Lainey Liu

Hong Kong's economic growth slowed in 2024 as stagnant consumption and a lackluster property sector weighed on activity, but the government said it was optimistic for growth this year despite heightened uncertainties.

Gross domestic product rose at a 2.5 percent annual pace last year, according to advance estimates from the Census and Statistics Department yesterday, slowing from 3.3 percent in 2023 and matching the government's forecast.

Growth picked up to 2.4 percent in the fourth quarter, from an upwardly revised 1.9 percent in the prior three-month period.