ch
CH
Switzerland
en-CH
ch_inst_classes
inst
Institutional
en
en
Insights

European growth has dipped, but a US recession is only postponed

Despite a technical recession on the continent – and without the banking problems facing the US – there are many positives for Europe

  • Although we’ve seen banking turmoil and rising rates, the stock market has been resilient due to expectations of cuts before year-end
  • European equities have outperformed the US by 30% since autumn, reversing a decade of underperformance
  • Excess savings, strong personal balance sheets and falling energy prices are positives for Europe

Interested in learning more?

 Download the full European Macro update to discover more.

15 June 2023
Paul Doyle
Head of European Large Cap Equities
Share article
Key topics
Related topics
Listen on Stitcher badge
Share article
Key topics
Related topics

Risk Disclaimer

Views and opinions have been arrived at by Columbia Threadneedle Investments and should not be considered to be a recommendation or solicitation to buy or sell any companies that may be mentioned.

The information, opinions, estimates or forecasts contained in this document were obtained from sources reasonably believed to be reliable and are subject to change at any time.

Engagement efforts outlined in this Viewpoint reflect the assets of a group of legal entities whose parent company is Columbia Threadneedle Investments UK International Limited and that formerly traded as BMO Global Asset Management EMEA. These entities are now part of Columbia Threadneedle Investments which is the asset management business of Ameriprise Financial, Inc. Engagement and voting services are also executed on behalf of reo® clients.

Related Insights

17 June 2026

Tiffany Wade

Senior Portfolio Manager

David Goodman

Senior Equity Research Analyst

Beyond hype: AI benefits taking shape

AI is moving beyond the hype cycle, with real productivity gains beginning to emerge. The biggest investment opportunities may lie with companies that can translate adoption into durable competitive advantage.
11 June 2026

Nicolas Janvier

Head of North American Equities

Neil Robson

Head of Global Equities, EMEA

Midyear Equity Outlook: Earnings strength fuels optimism

Earnings growth supports a constructive outlook for equities, with AI disruption and high levels of dispersion making diversification and careful stock selection essential.
20 May 2026

Paul Doyle

Head of European Large Cap Equities

Europe wary of continuing conflict

Markets expected double-digit growth for Europe in 2026, but this has been impacted by the Middle East crisis.
4 August 2026

In Credit Weekly Snapshot – Carry On Wayward Son

Keep calm but don’t count on carry from the yen! Meanwhile, the US-Iran narrative and AI-related issuance continued to influence markets.
28 July 2026

In Credit Weekly Snapshot – Get Off of My Cloud

As hyperscalers remain locked in an AI-funding arms race, are we seeing signs of indigestion in credit markets?
28 July 2026

Anthony Willis

Senior Economist, Multi-Asset Solutions team

Market Perspectives: Tipping point?

The coming week may turn out to be a tipping point for markets over the summer, as investors assess key developments in monetary policy, corporate earnings and geopolitics.
true
true

Risk Disclaimer

Views and opinions have been arrived at by Columbia Threadneedle Investments and should not be considered to be a recommendation or solicitation to buy or sell any companies that may be mentioned.

The information, opinions, estimates or forecasts contained in this document were obtained from sources reasonably believed to be reliable and are subject to change at any time.

Engagement efforts outlined in this Viewpoint reflect the assets of a group of legal entities whose parent company is Columbia Threadneedle Investments UK International Limited and that formerly traded as BMO Global Asset Management EMEA. These entities are now part of Columbia Threadneedle Investments which is the asset management business of Ameriprise Financial, Inc. Engagement and voting services are also executed on behalf of reo® clients.

You may also like

Investment approach

Teamwork defines us and is fundamental to our investment approach, which is structured to facilitate the generation, assessment and implementation of good, strong investment ideas for our portfolios.

Funds and Prices

Columbia Threadneedle Investments has a comprehensive range of investment funds catering for a broad range of objectives.

Investment Capabilities

We offer a broad range of actively managed investment strategies and solutions covering global, regional and domestic markets and asset classes.
Icon checked

Thank you. You can now visit your preference centre​ to choose which insights you would like to receive by email.