If this is a downturn, then Hong Kong can live with it

Despite dire warnings of gloom from Hong Kong officials, the city has succeeded in avoiding recession.

Figures released on Friday showed that output rose 0.6 per cent in the July-September quarter compared with the previous three-month period.

That might not sound much, but it equates to an annualised growth rate of 2.4 per cent. For an economy whose headline growth numbers are so dependent on the sluggish global trade cycle, that's thoroughly respectable.

In contrast, Singapore's economy contracted in the third quarter at an annualised rate of 5.9 per cent.

via Business feed http://www.scmp.com/business/article/1085592/if-downturn-then-hong-kong-can-live-it