Standard Life expects global growth

Standard Life Investments is confident the world economy will not undergo a double-dip recession. Andrew Milligan, head of global strategy at the group, told Investment Week's Markets Forum in Edinburgh low interest rates mean stronger high street sales. He added: 'Companies are controlling their inventory levels. These were slashed in 2001, which is why we had a recession. 2002 was a year of growth and it is continuing to come through.' The group is also confident deflation is highly unlikely. Milligan said: 'Japan was inflexible in terms of politics, banking and restructuring, which...