Rising from the doldrums

Europe is set to come out of the doldrums as global growth picks up in the second half of the year. Roger Guy, senior investment manager, European Equities, at Gartmore, says: 'Global growth had been slowing even before the events of 11 September, and that trend has since accelerated as consumers and businesses have cut back on expenditure. But continental Europe, and the UK for that matter, is a beacon of hope amidst the global gloom. 'Not only do we believe the Eurozone economy will avoid recession, it will grow by around 1.5% both this year and next. We expect the downturn to bottom...