ABN predicts US GDP to grow by 3%

Professional Adviser
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The US is in economic recovery, but of a very different type to those seen before, according to ABN ...

The US is in economic recovery, but of a very different type to those seen before, according to ABN Amro. David Watson, fund manger at the group, believes the slowdown had been caused by excessive capital expenditure within industry, especially within technology, creating overcapacity. By contrast, the consumer has held up relatively well, according to ABN, although the effects of 11 September and the Enron affair have buffeted private investors and made them distrustful of Wall Street. Watson said: 'There is recovery as the consumer never went away. His demand is stable but there is ...

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