Global Investing: Earnings-Growth Estimates Rose Across the Globe Earnings-Growth Estimates Rose Across the Globe Anil Rao November 4, 2020 MSCI Research has shown that dividends and earnings growth were principal drivers of equity returns, particularly in the long run. Dividend yields are still off considerably from pre-COVID-19 levels. However, analyst earnings growth estimates have rebounded from their June lows, particularly in Europe. While the Pacific and emerging-markets regions, led by firms in China, Japan, Korea and Taiwan, did not see earnings estimates fall as sharply earlier this year, they have also participated in analyst revisions. North America Mar Jun Sep -5 0 5 10 15 20 25 Forward Earnings Growth % Dividend Yield % Europe Mar Jun Sep Pacific Mar Jun Sep Emerging Markets Mar Jun Sep 2020 Growth estimates are one-year forward, dividend yields are based on one-year trailing. Related Content Global Investing Trends Investing globally can help investors work toward global diversification, tap into new opportunities for growth and harness the potential in the rise in importance of emerging markets. Explore More The State of Global Investing Over long periods, starting valuations and dividend growth have been primary factors in explaining equity market performance. Read More Equity-Market Dislocation and Index-Based Investing Currency-hedged indexes could help identify potential dislocations in a strategic currency-overlay policy. Learn More Locations Legal Modern Slavery Statement Privacy notice Index regulation Site map Cookies Use of ISO standards Subscribe Contact Us © 2021 MSCI Inc. All rights reserved We use cookies to optimize site functionality and give you the best possible experience. Learn More Accept Cookie Preferences