Multi Asset Investing - Quarterly Economic Outlook - October 2015

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October 23, 2015

We expect the economy to grow at a moderate 3% rate in 2015, with significant differences among the various regions. The recovery in advanced economies is expected to pick up, but growth prospects are uneven. Emerging markets continue to lead in terms of growth rates in absolute terms, but the activity in these economies is expected to slow due to the decline in commodity prices and China rebalancing. We recognize risks are on the downside, but we think the case for “risk on” remains in place, accompanied by hedges.

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Quarterly Economic Outlook

Monica Defend
Head of Global Asset Allocation Research