Developed market consumers and technology-related businesses look set to drive growth in 2016, according to Fidelity International’s global analyst survey.
The survey is the result of 17,000 one-to-one meetings held between Fidelity’s analyst team and its corporate contacts.
The survey reveals Fidelity analysts are seeing increased weakness in company fundamentals and are less optimistic or more pessimistic than last year.
Themes around technology and innovation – in particular those related to healthcare – look the most promising, with consumer sectors ranking a score of 5.6 on Fidelity’s sentiment indicator –10 per cent higher than the all-sector average.
As consumers’ purchasing power benefits from low energy prices, low inflation overall, a supportive housing market, wage growth and improving labour markets, management confidence in the consumer staples and discretionary sectors has picked up – from negative to neutral.
Fidelity International director of research Michael Sayers says: “The sector that scores highest on the direct impact from disruptive technologies is IT.
“New technologies are disrupting the landscape faster than ever, reshaping revenue pools across a number of industries and creating a host of opportunities. This is not only for those developing such technologies, but also for those who supply required infrastructure around them.
“However, while new technologies drive innovation, they also bring a fair amount of disruption in their wake; so thorough research into trends, leaders and laggards is vital.”