BofA: European recessionary fears remain as managers bet against global downturn

78% predict European slowdown

European managers remain pessimistic on the continent's chances of avoiding a recession, in stark contrast to their belief a global downturn will be avoided.

The Bank of America's European Fund Manager survey revealed that 71% of managers predict a gloomy outlook for European growth in the coming months, up from 66% last month, while 61% continue to expect a recession in the continent. However, those expecting a global recession dropped markedly, from net 39% in July to net 14% in August, well below November 2022's net 77% peak. UK inflation continues sharp descent to 6.8% in July The high expectation of European recession has created "one of the widest gaps relative to global recession expectations since the euro area debt crisis", Bof...