Leading indicators point to gradual global recovery

Sentiment among fund managers remains quietly confident of a gradual recovery in world economies although corporate profits continue to disappoint in a number of highly publicised instances. Ian McLeish, director at the Scottish Investment Trust, says the general economic background remains reasonable. 'Leading indicators in most countries are still rising although there was a setback in the US in May,' he says. 'Corporate profits in most regions should start to recover. Although there are a number of high-profile downgrades, particularly among technology companies, overall profits pro...