Global economies struggling to kick-start their economies may be lacking one simple ingredient: demand.
“So many people – politicians, journalists, I’m afraid market analysts – sort of believe this story of an economics recovery going on around the world,” Roger Nightingale, strategist at RDN Associates, told CNBC. “This economics recovery hasn’t occurred. In fact, actually for the past 18 months people have been talking about it, the data is pretty flat. If anything, it’s getting flatter.”
Sam Wardwell, Pioneer Investments, forecasts a high single digit return for the stock market this year, while Scott Clemons, Brown Brothers Harriman, shares a more cautious outlook.
“On the American front and indeed in many parts of the world, the picture you’re getting is that sales figures are slightly disappointing and earning figures also slightly disappointing,” he said.
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