Asias Slowdown Will Hurt U.S. Exports

The current economic slowdown in Asia will have a measurable effect on U.S. exports in 1998. If the financial situation in southeast Asia does not worsen, the exports-lost-cost to the U.S. economy will be one-half of a percentage point in inflation-adjusted gross domestic product, predicts Merrill Lynch. It's forecasting 2.5% real growth in 1998, compared with an impressive 3.7% this year.