Hong Kong 's economy grew by only 3.1 percent in the first quarter , down from 5.9 percent a year earlier , and some private sector economists have revised downwards their predictions for the 1996 year .
<response> <location>Hong Kong</location> 's economy grew by only 3.1 percent in the first quarter , down from 5.9 percent a year earlier , and some private sector economists have revised downwards their predictions for the 1996 year . </response>