Fidelity allays double dip fears

Fidelity has dismissed fears of a double dip and has urged investors to look beyond scare-mongering headlines and place economic figures in context.

Amid fears the US and other major Western economies face a double-dip recession, US equity managers at Fidelity say such concerns have been overplayed and economic data indicating negative trends is misleading. Manager of the Fidelity American Special Situations fund Adrian Brass says it was inevitable the initial strong upturn in growth following the recession was going to slow. "That pace of recovery was never going to be sustainable," he says. "Those who think the economy could continue to expand at the same pace are still blinkered by the artificially high growth experienced prior...