Data Source: Thomson Reuters
While it’s still early in Q2 reporting – with only 4 companies in the European Stoxx 600 reporting, estimates came down in the past week.In contrast to last week, Stoxx 600 earnings are now expected to increase .8% year on year relative to 1.8% expectations last week. Revenue expectations also ticked down from 1.1% last week to 1.0% this week.
While the estimates have come down, they are still positive year on year – relative to the US – where Q2 estimates are still negative. This should help the Fed and possibly ECB to act with accommodation in the coming weeks and months until the back half 2019 and first half 2020 growth estimates start to materialize.
