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Last updated at: (Beijing Time) Wednesday, January 14, 2004

Global GDP to advance 3.8 precent in 2004: JP Morgan

JP Morgan has made optimistic predictions to the global economy in a report of its opinions about global investment issued Tuesday in Hong Kong.


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JP Morgan has made optimistic predictions to the global economy in a report of its opinions about global investment issued Tuesday in Hong Kong.

JP Morgan forecasts that in 2004, the global economy is poised for a robust, broad-based growth and the global GDP will advance 3.8 percent. The expansion will be anchored by concurrent, above-trend growth in four key regions including the United States, the Eurozone, Japan and emerging Asia.

The report states that sustained strong global growth, especially in the factory sector, should help turn the tide on global dis-inflation Since Asian real GDP growth is running stronger than expected, Asia is critical to halting the deflationary trend, the JP Morgan report said.

JP Morgan suggested that more emphasis should be put on the manufacturing sector, when analyzing the global equity market.

The report said that the manufacturing sector should be a key beneficiary of stronger corporate spending, and judging by the November business surveys, the manufacturing upturn would become powerful.

It is shown in the report that the growth composition is going to move from consumer to the corporate sector and there is a growing trend in corporate restructuring. These will be the key drivers in the equity market.

Talking about Hong Kong's equity market, Adrian Mowat, regional strategist of JP Morgan, said that Hong Kong's equity market is strong and going up and will persist for a few months.

Source: Xinhua


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