Dec. 29 (Bloomberg) -- Hong Kong exports will slow next year as European consumers cut back amid the region’s debt crisis, the government-backed Hong Kong Trade Development Council said today.
Shipments will grow about 1 percent in 2012, compared with the 10 percent increase in 2011, the council told reporters in Hong Kong today.
Exports from the city are likely “to remain lackluster in 2012 due to a slow recovery in the U.S. and a worsening debt crisis in Europe,” said Daniel Poon, assistant chief economist at the council.
--Editors: Anjali Cordeiro, Dave McCombs
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