Chart Of The Day

Improving Euro Zone Macroeconomic Expectations Point to Earnings Recovery

Good chart and insight here from Guggenheim:

The ZEW euro zone macroeconomic expectation index rose to a 4-year high of 59.1 in October, indicating a majority of financial analysts and institutional investors are now optimistic about the euro zone economy over the next 6 months. This survey has historically been a leading indicator for euro zone corporate earnings and given the strong economic outlook in the region, we expect a sustained recovery in corporate earnings, creating a tailwind for European equities.

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