A Global Earnings Recession Could Be Underway
Jeroen Blokland | Sep 17, 2019 11:44
Singapore electronics exports fell 25.9% YoY in August. And today’s chart shows that that does not bode well for global earnings. In fact, if the relationship between the two factors holds, an earnings recession could be on its way. However, things are perhaps less grim than today’s chart suggests.
Electronics exports are impacted by the ongoing trade war between China and the US and could be less representative for earnings growth in other, less impacted sectors. The stronger-than-expected total Singapore exports support this notion. Nevertheless, earnings growth is likely to remain muted for now
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