London and Capital – Economic Seminar
Representatives from Jenrick CPI were invited this week to attend an economic market overview by wealth and asset management company, London and Capital.
We are delighted to report that the general overview of the seminar was one of global positivity, and augurs well for the next quarter, coupled with other leading market indicators which all point towards a slow return in confidence.
The seminar, which was delivered by Ashok Shah, commenced with review of the chain of events that initially led the global downtown.
Reviewing the last 12 months
Mr. Shah likened the global economy to a supertanker, which needs careful course planning and fine tuning to ensure a safe docking; the impact of decisions, which are made long before docking, are only felt many miles later.
Putting this in the context of the global economy, Mr. Shah’s opinion is that financial authorities did not act fast enough to arrest the banking problems.
Earlier action would have minimised the impact the credit crunch has had and also reduced the amount of government intervention (in terms of financial assistance) that has been required to reverse the recessionary nature of the economy.
Consequently, far stronger measures have been required in order to stimulate investors, corporate and private, to ‘adopt risk’ and therefore stimulate economic growth.
Reaching the ‘maximum point of pain’
The good news is that market data would support the view that we have reached the lowest point (or point of maximum pain) where the majority of the bad news has been declared and investors are slowly, but surely regaining their appetite for risk.
In addition, the increase in confidence and resurgence of the purchasing managers index, indicate that the economic recovery may be felt as early as the 2nd half of 2009.
Asia – an excellent economic indicator
The Asian economies are often good leading indicators for the global economy.
This is due to the importance the Manufacturing industry plays within their economy. In view of this, several companies have confirmed that substantial capital investment projects will now be implemented in anticipation of future growth.
If manufacturing is looking on the up – others industries tend to follow.
Summary and further information
Jenrick CPI would like to thank London & Capital for the opportunity of attending the seminar, we certainly feel buoyed by the prospect of a slow but steady economic recovery – perhaps starting as early as this year.
From our own perspective within the IT job market, the indicators appear to mirror that of Mr. Shah, as demonstrated by the KPMG report on the jobs market for May, posted in our earlier article.
This is good news all round and also reflects the amount of new IT job/contract activity we are experiencing from our clients.
Click on any of the links below for more information:
London & Capital – http://www.londonandcapital.com/global-home
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