There is, generally, a consensus in the analysts’ forecasts for the 2009. Most of them see a recovery starting in the second half of 2009. The world economy will contract slightly. The forecast is that the contraction will wipe out this year’s gains. In the third quarter of 2009 the recovery should start in the US and a quarter later in the EU. These opinions are probably keeping the markets at the level.
The ASX S&P 200 has not made any significant changes since the latest bottom in November. It has been oscillating between 3500-3600 for the past month.
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