Investment managers are losing confidence in
the US economy but do not expect another recession, according to a
new survey.
The European recession and growth slowdown in
China are expected to hurt the US, with the economy and corporate
earnings predicted to take a hit.
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Less than 10% believe this will cause another
US recession however.
Chicago-based international financial services
company Northern Trust conducted a survey of 100 investment
managers in the second quarter of 2012, from which these figures
were produced.
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By GlobalDataMost in the survey think Greece will either
remain in the Euro or make a smooth exit.
Just 31% think the country would project a
recession-inducing contagion upon leaving to other countries.
Nearly 25% surveyed believe that countries
other than Greece will eventually leave the Eurozone.
There is some optimism on the US front: more
managers (67%) see the US equity markets as attractively valued,
while over a quarter have observed a 10% upside.
The US housing market appears to be improving,
with a third of respondents predicting increase in house prices
over the next six months. This would be the highest rise since the
survey began in the third quarter of 2008.
Just 20% of surveyed managers think US GDP
will strengthen in the next six months, the smallest portion since
the first quarter of 2009.
Nearly a third think GDP will weaken, up from
13% in Q1.
