Fears about the outlook for global economic growth among large institutional investors have risen to their highest level in more than a quarter of a century, as Russia’s war in Ukraine enters its third month.
A net 71 per cent of fund managers in March said they expected the global economy to weaken over the next 12 months, according to a widely followed Bank of America survey that has data stretching back to 1995.
“Investors are struggling with the prospect of a really big slowdown in economic growth over the next six months. It is still only a minority that believe that a recession is coming but that view is changing quickly,” said Michael Hartnett, chief investment strategist at Bank of America.
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