Double-dip recession is still far from certain

ON UK GROWTH

ROSS WATSON, fund manager of Securities Trust of Scotland on UK Growth

This year, confidence has been scarce, because one potential problem is all too clear: the dreaded double-dip recession. Slowing Chinese growth and high US unemployment have sent shivers down the spines of the world’s stock markets. So the market understands the problem. But a double-dip is still far from certain. Rather than a rout, we are left with a nervous market that flinches with each fresh batch of data points. But despite all `the nervousness, there is one crucial area confidence does appear to be rising: the companies themselves. There are two clear indications of this. First...