By Philip Lawlor, managing director, Global Markets Research
After some understandable hesitancy, analysts have taken an axe to their 2020 earnings forecasts, with widespread profit recessions now in prospect. Expectations for a robust EPS growth recovery this year - the consensus view only months ago - have now been pushed into next year, more a function of base effects than optimism.
Given the severity of the pandemic aftershocks, however, this negative revision cycle could well have some way to go.
Regional consensus EPS growth forecasts (%)
Source: FTSE Russell / Refinitiv. Data as of April