Looking for growth in Western Europe

Over the next few years we should see a sustained period of moderate global economic growth, albeit more subdued than previous economic recoveries.

This background should prove supportive for equity returns, although the path will be fraught with difficulties and the returns delivered more subdued than seen over the past year. Growth rates in developing or emerging economies are widely expected to outpace their western counterparts, but this is well known in the market. So where should one look to find underappreciated growth opportunities in Western Europe? Across a variety of sectors I can find a number of attractive stock specific growth opportunities.  Over the next few years companies will use cost cutting as an important too...