BofA: Europe to dodge recession as UK fate looks glum

Warning of a 'hard landing'

The Bank of America has forecast that Europe will dodge recession despite weak data from the continent, while warning of a “non-negligible probability” of a hard landing for the UK.

In a research note published today (14 July), the bank argued that while there were signs European economic activity may be slowing, it was better placed than the UK to grow. OBR warns of 'significant' risks to public finances The Eurozone Composite Purchasing Managers' index (PMI) revealed last week (5 July) that business activity had slumped to 49.9 in June from May's 52.8. While BofA analysts said the data had "triggered some recession fears", it argued that a risk of further contractions across the continent were "relatively low". This was due to other sentiment trackers, su...