Wealth management expert: Double-dip recession unlikely

A wealth management expert has claimed the likelihood of a double-dip recession is low, given the fact that output is already relatively muted.

Michael Baxter, editor of Investment and Business News, argued "the recession seems to have been dragging", suggesting this is a blessing in disguise as "it is difficult to have a recession when your output is already at a low level".

Those with private wealth might be relieved to hear investments are unlikely to depreciate further, despite the UK's slow recovery from the economic downturn.

Accountancy and business firm BDO LLP's recent Optimism Index shows business confidence fell to 93.1 last month, down from 95.5 in July.

This is a crucial drop below the significant level of 95, which has not been seen since the worst months of the recession in late 2008 and early 2009.

The poor figures suggest the fourth quarter of this year might be a slow one, so those in wealth management may wish to diversify their investment portfolios in order to promote a good return on assets.  ADNFCR-2318-ID-800063769-ADNFCR