Hong Kong, China is expected to lead the region with GDP growth of 8.5 percent in 2000 followed by Korea with 8.3 percent and Singapore with 8 percent. In the first half of 2000, the recovery of Hong Kong, China strengthened with growth of 12.6 percent. Reflecting continued slack in the economy, consumer prices have declined, making its interest rates, closely linked to rising US rates, among the highest in real terms in the region. GDP growth in Singapore reflects rising productivity. The economy expanded by 8.9 percent in the first half of the year.
Inflation remains subdued, and unemployment levels declined.
China's first half growth of 6.6 percent. Private consumption expenditure rose by 7.8 percent for the same period. Despite this, inflation remained low. The People's Republic of China saw GDP grow strongly by 8.2 percent in the first half of 2000, driven mainly by domestic consumption. Retails sales expanded by 10 percent for the first six months after slowing for some years.