Invesco Perpetual's Barnett: The best days of the UK recovery are over

The UK economic recovery is set to enter a slower phase, adding to the headwinds facing the domestic equity market, according to Invesco Perpetual's Mark Barnett.

The manager of the Invesco Perpetual Income and High Income funds (pictured) acknowledged he was "overly pessimistic" on the outlook for employment, business investment, and GDP growth a year ago, but said the economy will experience "more moderate" growth in the coming quarters. Latest figures show UK GDP rose 0.7% in Q3 - an annualised rate of 3% - but Barnett believes "the best days of the recovery are probably behind us". "There could be a more moderate pace of economic growth from here," he said. "I believe the current UK economic outlook is okay but not fantastic. There is on...