Double-dip recession is unlikely

GLOBAL EQUITIES

As we enter a period of sustained subdued economic growth there will be an increasing gap between growth rates in developed markets and their emerging peers, writes BlackRock's Richard Turnill & Andrew Williamson-Jones

Economic data suggests we have gone through the initial recovery phase of the current economic cycle, with some leading indicators beginning to roll over to more normalised levels. We believe we are now entering a period of sustained economic growth. This, however, will be subdued, owing to the fiscal drag in developed markets. We believe a notable feature of the economic cycle over the next few years will be an increasing gap between growth rates in developed markets and their less indebted, emerging market peers. Investor sentiment Investor sentiment continues to look depressed. T...