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HSBC chairman warns on future economic outlook

Stephen Green, the chairman of HSBC, has today stepped forward with a number of downbeat comments regarding the worldwide economy. Despite the fact he readily acknowledges that there has been progress in economic recovery over the last few weeks and the last few months he believes that many Western nations have yet to come to terms with a significant increase in national debt.

The chairman of HSBC also believes that we may well see further large economic shocks which could impact upon economic growth in the future and stock market volatility. When you consider that HSBC has an exposure to many areas of the world we really do need to sit up and take notice when the company issues warnings such as that released today. It is interesting to see that many of the international banking companies in the UK are starting to turn mildly negative on the worldwide economic outlook.

Whether this is just a healthy concern for the future or a sign that perhaps we are headed towards a new and potentially more damaging economic downturn remains to be seen. However, those who ignore comments from companies such as HSBC do so at their own risk - there may well be trouble ahead!

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