Standard Life’s economic outlook

Standard Life Investments has published its outlook for the financial markets and the economy in its quarterly Global Outlook (PDF). Andrew Milligan, its head of global strategy, outlines three broad conclusions for the period ahead:
* Financial markets will remain volatile for some time.
* A moderate recession is expected in the developed countries in 2008-9 followed by a muted recovery into 2010.
* The inflation outlook looks positive for 2009-10 as long as commodity prices remain subdued.