ebulletin

May 27, 2020
Hong Kong Quarterly Construction Cost Review released
According to the latest Arcadis China and Hong Kong Quarterly Construction Cost Review, of the first quarter of 2020, the worldwide COVID-19 pandemic dealt a double blow on economic and financial fronts, the international community has largely reached a consensus: The global economy is heading for a recession this year.
In Hong Kong, the first quarter of 2020, Gross Domestic Product (GDP) has continued to decline and recorded a negative growth rate of (-)8.9% Year-on-Year (YoY) and (-)5.3% Quarter-to-Quarter (QoQ), both are the largest decline on record since Q1 1974. As a result of social distancing restrictions, fall in private consumption expenditure widened sharply among the domestic demands with a record of (-)10.2% YoY in this quarter. The overall Composite Consumer Price Index (CPI) kept slightly dropping in this quarter, with a record of (+)2.3% YoY based on March 2020.
Download the 2020 first quarter edition of Arcadis' China and Hong Kong Quarterly Construction Cost Review to discover more about the latest market movement and cost trends