economic conditions in us no longer deteriorating, believes picteT
While US consumer confidence fell to a nine-year low in October the global economy is unlikely to slip into recession, according to Pictet Asset Management. Mike Collins, head of asset allocation at Pictet, said: 'What happens over the next couple of months could determine whether the global economy sinks or swims in the first half of 2003. The recovery that began earlier in the year has clearly faded and the most recent economic data has been a bewildering mix of good news and bad.' Competing economic forces are struggling for the upper hand, he said, which will effectively decide whet...
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