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How's it going? /haʊz ɪt ˈgəʊɪŋ/ 

(expression) (informal) Usage note: This term is used by many speakers.

A way of saying ‘How are you?’. The typical answer is ‘Good, thanks. And you?’ The greeting is usually used to establish quick contact with someone rather than to ask about their health or well-being. The expression means the same as 'How are you going?'

Example: Hi Mr. C, how’s it going? (http://forum.education.tas.gov.au/webforum/student/cgi-bin/ultimatebb.cgi?ubb=get_topic;f=220;t=000003)

One friend asking another, 'How's it going?'

(photo by Julia Miller)