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Politics : Formerly About Applied Materials

AMAT 327.01

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Jan 16 9:30 AM EST

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To: StanX Long who wrote (56640)	11/30/2001 3:33:01 AM
From: StanX Long	Read Replies (1) of 70976

Friday November 30, 5:13 AM Hong Kong data likely to show territory in recession By Andrea Ricci sg.news.yahoo.com HONG KONG (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 consensus 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. "Trade figures indicate that exports were weak in the third quarter and private consumption also turned very weak. And we expect that will affect investment sentiment in the fourth quarter, leading to a very soft number for the year," said Vincent Kwan, senior economic research manager at Hang Seng Bank.

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