Optimistic outlook for US

The terrorist attacks in the US struck a heavy blow to an already slow US economy yet the outlook is still upbeat and relatively optimistic. Fund managers are divided in their views and debating whether the US is in a recession, but there is consistency in the belief the economy will pick up early next year as long as terrorism remains at bay and consumer confidence is restored. Steve Arnold, a fund manager on Threadneedle's US desk, says they have had to dramatically lower their forecasts since the terrorist attacks and admits they were not expecting a recession. 'But in the techn...