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To: yard_man who wrote (4628)	8/28/1998 12:30:00 PM
From: Joseph G.	Read Replies (2) \| Respond to of 86076

<<RESEARCH ALERT - Morgan lowers Mexico '98 GDP view MEXICO CITY, Aug 28 (Reuters) - Morgan Stanley Dean Witter said Latin American economist Chip Brown lowered his forecast for Mexico's 1998 gross domestic product growth. -- dropped third quarter estimate to 4 percent from 5 percent and fourth quarter to 3 percent from 4.2 percent. -- the full-year 1998 forecast was reduced to 4.4 percent from 4.8 percent. Mexico posted GDP growth of 6.6 percent in the first quarter and 4.3 percent in the second. -- noted impact of global financial storms that have pushed Mexican interest rates higher and tightened credit. -- said in a report that ''tighter credit and higher rates are making Mexican decision makers more cautious, and this is likely to translate into slower growth.'' -- said maintained 1999 GDP forecast at 4 percent. -- ''We think that the risk to our macro forecast is clearly to the downside,'' Brown said in the report. ''Here in the eye of the storm, however, we think it prudent to wait a while to see how long the clearly transitory elements are going to last.'' >> they admit they do constructive incantation