JP Morgan Fleming - UK outlook, January 2002

Professional Adviser
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Economic growth remains remarkably buoyant

By Chris Tracey, JP Morgan Fleming investment director The FTSE All-Share Index fell 13.3% over the year, beaten by gilts, which produced a positive 3% according to the FTSE All Stocks Index. However, cash was king, with a positive return of 5.2%. Although the behaviour of UK equities may not have been particularly noteworthy in a global context, the UK economy stood out for its remarkable buoyancy, particularly in the latter half of the year when Europe and the US had more or less ground to a halt. But that strength is extremely skewed towards the consumer and away from the ind...

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