Financial overview (see Downloads for full report)

A divergent world . . .

The mid-year economic slowdown in 2010 gave way to resurgent growth during the final quarter of the year, quashing fears over the potential for a double-dip recession. Financial markets were driven by policy and political headlines, together with improved economic data that helped to calm investor sentiment. Global manufacturing data improved, economic news flow out of the US strengthened and fallout from the Greek crisis was contained in the euro-zone. As emerging markets soared ahead, the developed world had to implement further measures to stem the economic slide. The result has been a dislocation in growth and further divergence between countries and groups in terms of policy reaction and macro economic data.

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