McQuaker dismisses double dip threat

It is "unlikely" the UK economy will plunge into a double dip recession next year, says Henderson's head of equities Bill McQuaker.

McQuaker says the economic recovery mirrors that following the mid-1970s recession, in which growth initially soared but then began to moderate. Speaking in a conference call for investors he argued fears of a double-dip recession are "unwarranted". "The economic recovery between 1975 and 1980 gives us some kind of indication about how we will go forward from here. I do not believe the economy will double dip, but growth will be more pedestrian than we have been used to these last 12 to 15 years." He adds trends in the UK economy over the last three to six months have been as expec...