Experts Predict Declining Corporate Profits in the New Year
admin on January 9th, 2009
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Expert financial analysts predict the world’s corporate earnings will continue to decline for a least the first half of 2009. Several financial management houses rated various industries and believe that Standard & Poor’s 500 will experience a 9% decrease in its earnings by mid year. Several top brands and companies have declared bankruptcy in 2008 and bankruptcy law firms are seeing an increase corporate demand for bankruptcy contingency consulting.
The energy and retail industries are expected to the hardest hit in 2009, with profits expected to decline by more than 20%. As a result of these industry losses the European and Asia markets will be driven further into an economic recession, titling this economic period the first time Europe, Japan and the US have simultaneously been in an economic recession since World War II.
