Refinitiv I/B/E/S data points to a 2.5% decline in earnings growth in the first quarter for STOXX 600In the United States, where major banks have already reported first-quarter results, earnings for S&P 500 companies are seen falling 4.7% in the quarter, an improvement from an expected 5.2% drop seen earlier in April.
That would be a second consecutive quarter of decline, however, marking a corporate recession. Europe is headed for a recession too, the data shows, with a drop in earnings of 5.4% expected in the second quarter. But investors interviewed by Reuters are more optimistic than the headline forecasts suggest, saying not only that growth momentum has rebounded
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