Washington press have been alerted to expect new global growth forecasts from the International Monetary Fund next Tuesday - arguably the most bullish...

John Robertson

PortfolioDirect

Washington press have been alerted to expect new global growth forecasts from the International Monetary Fund next Tuesday - arguably the most bullish development for the resources sector in over three years. The Fund's managing director has already intimated the revisions will involve the first lift in forecasts for the current cycle after a succession of downgrades as growth repeatedly fell short of its forecasters' expectations. Upward forecast revisions signal greater confidence about the outlook - a critical and hitherto missing ingredient required for stronger resources sector equity prices. With stronger output growth (and greater confidence about its future trajectory) should also come higher investment spending. Both are needed to tilt the balance of markets back toward deficit and for a genuine cyclical recovery to commence.


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John Robertson is Chief Investment Strategist for PortfolioDirect a provider of resource sector investment stock ratings and portfolio strategies for mining and oil and gas investors. He has worked as a policy economist, corporate business...

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