Aberdeen updates economic outlook

Professional Adviser
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Aberdeen Asset Management pulls no punches in its November update on its outlook for the wider econom...

Aberdeen Asset Management pulls no punches in its November update on its outlook for the wider economy - written as it was even before the latest jitters in the markets caused by yesterday's air crash in New York. The bottom line according to Aberdeen is that the US is in recession and any recovery is unlikely to start until midway through next year. The effects of the current downturn will last much longer, however, as price deflation will likely keep profit levels down throughout 2002, even beyond the beginnings of an upturn. That will co-incide with a global GDP growth rate...

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