Gavekal Capital: Sales Growth Estimates Continue to Deteriorate

Friday, November 14, 2014

Sales Growth Estimates Continue to Deteriorate

An increasing number of MSCI World sectors are now projected to experience negative sales growth for the next year.  Not long ago, the Telecom, Materials, and Utilities sectors showed the most worrying declines.  Now, they are joined by Industrials and Consumer Staples-- with estimates still positive (but declining) in the remaining half of the sectors:

image

It will likely come as no surprise that estimates in MSCI Europe are the weakest among the three regions, while those in MSCI North America remain the most positive.

MSCI Europe
image

MSCI North America
image

MSCI Pacific
image