Emerging Markets: The Earnings Challenge in 2013

Citi Global Perspectives & Solutions (Citi GPS) is Citi's latest thought leadership initiative through which we are delivering insights and viewpoints on compelling issues and structural thematic trends in the global economy. In the most recent opinion article: "Emerging Markets: The Earnings Challenge in 2013", I discuss how EM economies saw much weaker growth than originally forecast for 2012, which contributed to virtually no corporate earnings growth last year. With EM equities rising by 15% in 2012, valuations increased. Looking ahead to 2013, I argue that, with equity markets not likely to re-rate again, the key to further market gains will be a solid rebound in GDP and earnings growth, which we expect. Our call is for EM equities to rise by close to 10% in 2013.

View the full article, "Emerging Markets: The Earnings Challenge in 2013", on the Citi GPS website.