Hong Kong Exits Recession as Spending Boom Revives Growth

(Bloomberg) — Hong Kong emerged from recession in the first quarter as the reopening of its borders revived spending.

The economy expanded 2.7% in the three months through March from a year earlier, topping the median estimate of a 0.5% uptick from 10 economists surveyed by Bloomberg. It was the first quarterly gain in gross domestic product in more than a year and a rebound from the 4.1% decline in the final quarter of last year.