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Economic
Performance and Prospects
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Economic Performance
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| 6. I will begin my analysis with an overview of the economy. Our economy underwent a downward adjustment in 2001 with a growth of only 0.1% in real terms, much lower than the 10.5% real growth in 2000. Deflation continued, with the Composite Consumer Price Index falling by 1.6% last year. In the quarter ended 31 January 2002, the seasonally-adjusted unemployment rate rose to 6.7%, its highest since the 1980s. |
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Chart 1 The Hong Kong economy underwent a downward adjustment in 2001 |
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Chart 2 Unemployment increased |
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Chart 3 Deflation continued |
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