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The forecast growth rate in real terms of GDP for this year has been revised to 2%, up from 1.5% in the May update. This is due to the GDP outturn in the second quarter being higher than earlier thought, and taking into consideration the current pace of Hong Kong's economic upturn.
On the price front, local costs and prices are expected to remain generally subdued in the coming months, so the Composite CPI forecast rate has been revised down, to -3%, from -2.5% in the May round.
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