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Politics : Formerly About Applied Materials

AMAT 250.93

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To: StanX Long who wrote (56240)	11/26/2001 2:06:14 AM
From: StanX Long	Read Replies (1) of 70976

Monday November 26, 2:12 PM HK seen slipping into recession with Q3 GDP By Andrea Ricci sg.biz.yahoo.com HONG KONG, Nov 26 (Reuters) - It may be no secret to anyone who has lost a job, taken a pay cut or watched the value of their home slide, but Hong Kong is expected to confirm on Friday what everyone already suspects: the territory has slipped into recession. Economists polled by Reuters on average expect third-quarter data to show the economy contracted 2.07 percent in the quarter year on year. On a quarter-on-quarter basis, the concensus among economists making a projection is for a 1.2 percent fall. The economy grew 0.5 percent in the second quarter year on year but contracted 1.7 percent on a quarter-on-quarter, seasonally adjusted basis. Another negative quarter-on-quarter figure would satisfy the common definition of a recession. And it's not the bottom yet.

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