AXA IM's Stride: Sentiment is at a critical juncture

ON UK GROWTH

Global growth has been under pressure in recent weeks with anxiety levels rising about the impact of tapering by the US Federal Reserve.

A number of emerging markets have experienced sharp currency and stock market declines. However US growth is proving resilient and the EU economies in aggregate appear to have enjoyed a very modest upturn, albeit with wide variations between member states. In the UK, survey data has shown rising production output and the all-important animal spirits of the UK consumer has been evident in the wake of the new addition to the royal family, hot weather, and an Ashes series win. No doubt the signs of an upturn in house prices will have reinforced this nascent feel good factor. Against this...