US economic growth slowed in the second quarter amid a widening in the trade deficit, but an acceleration in consumer spending and robust business investment in equipment related to the buildout of artificial intelligence infrastructure pointed to underlying strength. Gross domestic product increased at a 1.5 per cent annualised rate last quarter, the Commerce Department’s Bureau of Economic Analysis said in its advance estimate of second-quarter GDP on Thursday. Economists polled by Reuters...
Hong Kong’s export surge will extend into the coming months, driven by the global AI boom, economists have told the South China Morning Post, adding that gross domestic product (GDP) growth could surpass official forecasts. Billy Mak Sui-choi, an associate professor at Baptist University’s accountancy, economics and finance department, said global demand for artificial intelligence (AI) remained far from saturated and would continue to drive exports. “No single country has yet been able to...