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From Komfie Manalo, Opalesque Asia:
The accumulation of macro-economic fears continue to weigh on the morale of investors despite better-than-expected earnings in February, as the real state of health of the global economy remains critical, said Swiss banking group SYZ & Co. in its latest “Point of View” newsletter published this month.
“All that is certain is the necessity of extending the growth base to domestic demand (in any case in the advanced economies) and the still-accommodative nature of the principal central banks’ policy, despite the gradual withdrawal of the emergency measures adopted during the financial crisis,” the report said.
This was the same cautious outlook presented by SEB, a Northern European financial group, which said in February that despite the strengthening of the global economy in recent months, there were mounting worries about how government’s finances would be restored to an even keel quickly, and how changes in the global credit market would affect access to capital and cost of capital. It concluded that growth would be hampered this year.
United States
Available data during the month of February was not clear on the real state of the U.S. economy. Activity in industry remains well-oriented. Industrial production increased for the seventh consecutive month (+0.9% in January). The main confidence surve...................... To view our full article Click here
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