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There were two recessions where earnings declines were as deep or deeper, and two when the length of declines was as long or longer.
If these forecasts prove correct, it would be the first three consecutive quarterly earnings declines since 1991, during the last recession.
That would mean four consecutive quarters of corporate earnings declines, the first time that has occurred since the recession of 1990-1991.
Technology bulls think that earnings declines through June of this year will give way again to growth, albeit anemic, in the third and fourth quarters.
As the Merrill Lynch forecast shows, it won't take an actual recession to produce several quarters of earnings declines that could rattle investors anew.
American technology companies, whose recent earnings declines in the United States have been softened by strong sales abroad, now appear to be facing a slowdown overseas as well.
Similar(30)
In fact, just 4 of the 50 highest earning occupations in 1999 saw their earnings decline in real terms between 1999 and 2014.
Earnings decline over time as well; individual earnings declining the most (primarily because of the drop in employment), whereas household earnings and household income drop less severely.
Per share earnings declined 17.5percentt.
Asset management earnings declined 11percenttoto 98 million Canadian dollars.
But back then, the overall earnings decline lasted two years.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com