UK economy worse than US and Europe - Geffen

Aside from Japan, Geffen feels the UK economy is more fragile than other developed nations and is not optimistic on 2008 growth prospects. He believes the 2008 US growth forecast will be revised down to 1.2% “fairly shortly”, with the UK somewhere in between an optimistic 2% for Europe and 1% in Japan. Geffen says a “regulation stalemate” and a destructive private equity sector are the main contributing factors to the British decline. Not surprisingly Geffen is therefore bullish on the emerging markets, expecting 2008 real growth rates of 7.5% in Russia, 8.4% in India and 9.8% in China. ...