Flash: Earnings expectations on the decline? – Goldman Sachs

FXstreet.com (New York) - Consensus earnings expectations have been revised down by 7% since the beginning of the year, bringing the earnings growth expectation to 5%, notes the Economics Research Team at Goldman Sachs.

Moreover, “We expect economic growth to reaccelerate in the second half and earnings expectations to stabilize. We adjust our earnings growth forecast to 6% for this year and continue to expect 12% growth in 2014. Over the last two weeks of July and first week of August, 66% of the STOXX Europe 600 by market cap will report 2Q/1H earnings. We expect a small positive surprise against expectations that have already been revised down.”