NEW YORK, Sept 3 Economic growth depends on the
productive use of investment and rejuvenation of "capitalistic
animal spirits", but that is not taking place now, Bill Gross,
the manager of the world's largest bond fund, said in his latest
investment outlook letter on Wednesday.
"Cross your fingers, credit growth is a necessary but not
sufficient condition for economic growth," said Gross, who
manages the $223 billion Pimco Total Return Fund. "Economic
growth depends on the productive use of credit growth, something
that is not occurring."
(Reporting By Jennifer Ablan; Editing by Chizu Nomiyama)