Cavendish manager says US double dip 'a real possibility'

The US economy will continue to see challenges until unemployment improves, according to Cavendish's Tim Roberts, who says he still cannot rule out a double-dip recession.

The North American fund manager says it would be foolish to be "blasé" about a double dip, as if China begun reversing its growth or if US data got progressively worse it could become a real possibility. However, he also thinks there is less than a 70% chance of US GDP turning negative in the next 12 months and has applauded US companies for how they have handled the recent downturn. "US companies has weathered the storm more wisely than in other recessions, and when the tide turned profits came back quite strongly. Earnings have already recovered quite well." However, top line rev...