BofAML survey: No recession until 2020

Growth optimism remains at low levels

Almost half of fund managers surveyed in the latest Bank of America Merrill Lynch (BofAML) survey are predicting a recession in 2020.

The latest monthly global survey questioned 223 fund managers with $643bn in assets under management between 4 and 10 May. It found the percentage of investors expecting a recession this year was 2% and instead, the consensus was for a recession in the first quarter of 2020. Some 43% thought it would be 2020 while 41% thought it would be 2019.  However, sentiment still remains low with growth optimism reaching the lowest level in two years - just net 1% of investors predicting the global economy will strengthen over the next 12 months. This was down from net 5% in April.  BofAML su...