Corporate Sales Growth Still Heading Lower
Despite global stock markets still rallying on top of stellar performances recorded for the first half of 2019, sales growth of US and Eurozone blue chip companies continues to decline. In fact, it has been steadily falling for almost a year now: While US sales growth for the S&P500 peaked at 10.2% in September 2018, that “growth” was literally cut in half, coming in at 5.1% last June. Worse, earnings growth in June for the Eurostoxx50 companies is at a negative -4.2%, after making a 3-year high at 1.8% in August 2018.
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