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My guess is that after revisions that Q3 is
already negative before 9-11
<FONT face=Quotrone
size=2> --------------------------------------------------------------------------------
09/25 12:31A (RT)S&P's MMS sees larger U.S. growth drop in
Q4
Story 4790 (I/ASIA, I/AAA, I/TCF, I/DBT, I/US, I/ECI,
H/)
In alert "S&P SAYS ASSUMING 1.5 PCT GDP DROP FOR US IN
Q4
2001, 1.5 PCT GAIN IN Q1 2002" please read statement was
from
Standard & Poor's MMS instead of from S&P. (Clarifying source
of
statement)
The story
follows:
HONG KONG, Sept 25 (Reuters) - Standard & Poor's MMS
said
on
Tuesday it had changed its growth assumptions for the
United
States economy to a 1.5 percent fall in the fourth quarter
of
2001 and a 1.5 percent gain in the first quarter of
2002
following the devastating attacks in New York and
Washington.
"The contraction underway in the airline industry is
clearly
substantial and we would expect associated weakness in
the
business travel and tourism industries to significantly
impact
employment and GDP in Q4 and Q1," it said in a
statement.
((Hong Kong Newsroom +852 2843-6934, Fax +852
2845-0636
<A
href="mailto:hongkong.newsroom@xxxxxxxxxxx";>hongkong.newsroom@xxxxxxxxxxx))
REUTERS
Rtr 00:31
09-25-01
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