US economy expected to bounce back in mid 2002

Recovery in the US will be delayed into the middle of next year but when it comes, it should be more...

Recovery in the US will be delayed into the middle of next year but when it comes, it should be more rapid than it would have been without the recent attacks in America, according to Sheryl Hemple, portfolio manager for the Transatlantic Fund at Credit Suisse Asset Management. Government spending and a benign fiscal climate with low interest rates and low inflation should enable the economy to bounce back much faster than if the downturn had been more gentle, says Hemple. But she predicts it will not happen until the second quarter of 2002 at the earliest. Elaine Crichton, head...