Tuesday 4 November 2008

Current rally to go on, eco growth seen lower: JP Morgan

Adrian Mowat of JP Morgan expects the current market rally to continue. He believes the markets have already seen the worst in terms of price correction.

According to Mowat, economic data from developed countries was very disturbing.

The US, Mowat said, has seen the worst consumer recession since 1940s. "The world is moving into a period of significantly lower economic growth."

He feels India’s capital expenditure plans and growth rate forecasts need to be reduced. He expects inflation to ease as consumer spending slows down

Source: Moneycontrol

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