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To: Road Walker who wrote (42602)	12/18/1997 10:33:00 AM
From: Paul Fiondella	Respond to of 186894

Recession Assuming Japan does not implode, I look at the first two quarters of next year to show a slowdown, especially in capital equipement. Recession or negative GDP not until next Fall. As you can see from today's Kodak layoff announcement and Japanese auto import figures, the effect of the competitive devaluations on the US economy has already begun. It hasn't yet been digested by Congress or by working people but that will come early next year. Watch Christmas retail sales for an early indication of a slowdown in consuemr purchasing.