BofA: European managers remain 'downbeat on growth'

Inflation set to ease

European managers continue to remain “downbeat on growth” but do not expect a 'hard landing', the Bank of America European Fund Manager survey has found.

Four out of five (81%) of the 262 managers polled in July predicted a further economic slowdown in Europe, up from 70% last month, while less than 10% expected growth momentum to improve across the continent. Sentiment has also soured on the US, with 55% now foreseeing monetary policy-induced growth weakness in the US, up from 45% last month. However, 42% still believe US growth will remain resilient near-term, thought still expect it to slow long-term. BofA: Europe to dodge recession as UK fate looks glum China has also seen a sharp decline in manager outlooks, with 45% now ex...