While the financial community frets that the nation's economy is growing too rapidly, threatening higher inflation, at least one Wall Street economist predicts a recession next year.

Population age statistics show that significantly fewer new households are likely to be formed in 1997, according to Richard F. Hokenson, chief economist at Donaldson, Lufkin & Jenrette Securities Corp. in New York, and that presages a consumer-led downturn in business conditions.

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