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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (1568)	6/15/1998 4:37:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

When Abby speaks I listen - My favorite analyst. Monday June 15, 3:29 pm Eastern Time Asia impact on US economy only moderate-Abby Cohen NEW YORK, June 15 (Reuters) - The effect of Asia's financial problems on the U.S. economy will only be slightly negative despite Japan's weakening situation, said Abby Joseph Cohen, co-chair of investment policy at Goldman Sachs. ''We reiterate our long-standing conclusion that the effect of Asian conditions on aggregate U.S. economic growth (and) corporate profits is a moderate negative,'' Cohen said in a report Monday. ''Of course, more notable effects are being seen on specific industries and companies,'' she added. Cohen said the drag on U.S. profits by a further decline in Japan's economy has been overstated, and that devaluation of the Chinese currency is ''unlikely''. The weaker yen's impact on the United States is moderated by several factors such as a large and vibrant domestic sector, and diversity of foreign trade. Regarding the outlook for U.S. profits, rising labor compensation was not squeezing profits in most industries because it was being offset by productivity gains.