Global Recession Fears Grow

[marmar]

from MarketWatch:



More fund managers eyeing global recession
By Sarah Turner, MarketWatch


LONDON (MarketWatch) -- More fund managers now believe that the global economy will enter into recession, according to Merrill Lynch's fund manager survey for August.

The survey of 193 asset allocators managing $611 billion in assets found that a net 3% believe that a global recession is unlikely over the next twelve months, down from 15% taking this stance a month ago.

Meanwhile, 24% of respondents believe that the global economy is already in a recession, compared to 20% a month ago.

"The credit crunch may be morphing from a financial crisis into an economic one as fears grow about the outlook for the global economy," the survey said.

It added that fears of stagflation are giving way to expectations of below-trend growth and inflation.

A net 18% of now managers believe that global core inflation will be lower in a year's time.
This view contrasts with that of July's survey which showed that a net 3% of managers believed that inflation would be higher at the same point next year.

The survey's release comes amid downbeat economic assessments from around the globe on Thursday, with Japan's economy contracting during the second quarter and the Bank of England warning there may be no growth this year.

The European Central Bank last week acknowledged weakness in the euro-area economy, prompting a sharp drop for the euro. .......(more)

The complete piece is at: http://www.marketwatch.com/news/story/fund-manager-survey-shows-global/story.aspx?guid=%7BBF5BA480%2DD979%2D4731%2DBD11%2D7C514F1AE53B%7D

[bridgit]

1. From Fidelity: Market Update (Real Time) as of 8/14/2008, 9:55PM ET

DJIA 11,532.96 -109.51(-0.94%)
NASDAQ 2,428.62 -1.99(-0.08%)
S&P 500 1,285.83 -3.76(-0.29%)
Rus. 3000 752.94 -1.01(-0.13%)
Wil. 5000 13,145.53 -18.07(-0.14%)
Nikk. 225 13,012.35 -10.70(-0.08%)

everything down :(

[opihimoimoi]

2. Heck of a job GOP....and ya wanna still go with McPAIN?? ARE YOU GUYS NUTS??

Are you guys doing Satans Work??? Ya wanna have a fuckin WAR? Is it that bad...your compulsion? What is it about War and Misery that attracts you to embrace them...because all your efforts point to advancing PAIN.....