US to lead global recovery

Global recovery is to be led towards the end of the year by the US. Although parts of Europe and Asia are in recession, tight monetary policy is set to help these economies and increase consumer spending. Rupert Carnegie, head of research and strategy at Henderson Global Investors, says: 'The economic outlook remains uncertain, but market indicators are positive; valuation was as good in September as in 1998; liquidity is extremely positive and the earnings picture is less awful than it was.' Among the major economies, Japan is experiencing the deepest recession, states Carnegie. Indu...