Pessimism grows and turns negative on profits

Economic confidence by fund managers has hit record lows this month, with some even ready for a full-blown recession.

Economic optimism continues to slip to record lows this month, according to a monthly survey of fund managers, conducted by Gallop for Merrill Lynch. Latest figures show that only 4% of Asian fund managers expect a stronger Pacific economy, a drop from Novembers 11% and the lowest since the survey began. This is mirrored by the 4% who expect a stronger global economy. In contrast, although optimism about the Chinese economy also fell from 74% to 52%, it...

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