Cazenove's Jeffrey: Party animals still waiting for upturn

When will the global economic party get going?

The best parties are the ones for which you have the lowest expectations, writes Richard Jeffrey, chief economist at Cazenove Capital.

The worst? - those you have spent weeks looking forward to, and for which you have made a really special effort. The very worst? - fancy dress parties; they seem such a good idea, conceptually, but almost always turn out to be stilted and dull. If you know me, please leave me off your invitation list. Since the end of the recession, we keep expecting the global economic party to get going again.  At the start of every year, invitations to attend the festivities in the US are sent out by excited economists, and dutifully we turn up with our friends, only to find that the organisers ...