ABERDEEN Asset Management has warned equity markets are going to be no easier in 2013, as concerns over public and private finances in the United States weigh on confidence.
Mike Turner, head of global strategy at the Scottish investment house, said: "Will markets beat this year's returns? My suspicion is it is going to be very hard to do so."
He warned that the US consumer, who accounts for 16% of the world economy, remained highly indebted.
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