L&G economist Tim Drayson looks ahead to 2009 on IFAonline and forecasts a sharp contraction in the US, UK and European economies.
The group also believes world growth is likely to be weaker next year than in 1982 and says it can't anticipate a recovery in developed economies until bank lending conditions improve.
Drayson points to a sharp slowdown in emerging economy growth but predicts a 'stuttering recovery' for credit.
To view L&G's forecast for the economy and the major asset classes including equities, bonds and property in 2009 click here.
First mentioned in Cridland Report
Second acquisition of 2019
Guy Opperman has rejected calls to speed up changes to auto-enrolment (AE) despite increasing pressure to boost contribution rates and overall savings pots.
Four key areas to focus on