The answer depends on two key variables the discount rate and future earnings growth. A lower discount rate and or a higher rate of expected earnings growth would justify higher equity valuations.

Thus, the expected fundamental real return on diversified US stock portfolios right now is in the range of 6 to 7 . The expected market return is that amount plus or minus expected changes in valuation ratios will stocks return more as price earnings ratios rise, or return less as price earnings ratios fall?

In tandem with an expected fall in world economic growth in 2005, growth in international trade is also expected to slow in real terms.

This trend was expected to continue, and developing countries were expected to become the engine of world economic growth.

This growth was expected to continue over the short to medium term.

The company is expected to commence full operations late in 2005, which should boost foreign exchange earnings and provide employment to some 900 workers.

When Chinese growth eventually becomes less dependent on investment, growth rates in steel consumption can be expected to fall sharply.

Family earnings

Earnings related

While expectations of faster earnings growth may well be contributing to elevated P E levels, the current situation is complicated, to say the least. What is certain is that expectations of high earnings growth would have a more durable positive effect on P E levels than the suppression of the equity risk premium.

However, consistent growth in physical investment is expected to improve its 2005 performance moderately.

In Latin America, it was expected that growth would accelerate and stability would increase.

This expected growth was shown in the detailed projections contained in the valuation report.

Additional earnings limit

Instability of earnings

It is expected that the Sierra Rutile Limited Company in Moyamba district will commence full operations at the end of 2005, which could boost foreign exchange earnings.

(c) higher cost of goods delivered ( 0.8 million) to support the expected growth in sales

The external deficit is expected to stabilize in 1998 as a result of lower growth.

Yet another reason for the correction is that valuations in stock markets are stretched price earnings ratios are now high, while growth in earnings per share is slackening, and will be subject to further negative surprises as growth and inflation remain low. With uncertainty, volatility, and tail risks on the rise again, the correction could accelerate quickly.

On the contrary, the real question is why the increase in stock prices has not outpaced growth in corporate earnings. After all, in the 1990 s, the US stock market surge (as in many countries) was fueled by record high price earnings ratios.

While the earthquake and tsunami disaster lowered expected growth in 2005 somewhat in Thailand, Indonesia is still expecting GDP growth to increase next year.

These historically embedded norms and practices were only slowly superseded. But, in the twentieth century, with greater security of conditions and continuous economic growth, it became normal for individuals, companies, and governments to borrow in anticipation of earnings to spend money they did not have, but that they expected to have.

And with your earnings...

Furthermore, the annual population growth rate is expected to be 1.7 per cent for 1991 2001.

10. While the developing economies managed to maintain their growth momentum in 1996 and 1997, 1998 growth is expected to be under 4 per cent.

On the other hand, barring significant new weather disturbances, economic growth is expected to accelerate in Africa.

The rate of population growth was expected to level off in the twenty third century, by which time the world population was expected to be about 11 billion.

No limit to additional earnings.

That said, some trends may be having the opposite effect on expectations for earnings growth. More than two fifths of the S amp P 500 s earnings come from external markets, some of which, like Europe and Japan, are barely growing, while others, like China, are slowing.

For the ESCWA region as a whole (including Iraq and Palestine), 5.4 per cent real growth is expected.

In China, for example, rapid economic growth after the late 1970s was associated with a significant rise in inequality. Roughly half of the increase was the result of urban rural earnings gaps, which also acted as the engine of growth.

Intel's fourth quarter earnings 10.8 billion.

The reason for the ranking decline is that Brazilian GDP growth is expected to worsen in the medium term.

52. Consequently, in order to achieve economic growth in the developing countries, their commodities must have access to international markets so as to bring about an increase in export earnings.

By contrast, many emerging economies, highly dependent on commodity export earnings, have been stressed by the commodity price reset, sluggish growth in developed economies, and slower growth in China. Capital flight would materially add to their plight in some cases disastrously so.

Sudanese economic growth has been stable and the economy is expected to grow by about 8 per cent in 2005.

God give you good earnings, good man.

Despite expected programme delivery growth in both regular and other resources, the Administrator is presenting a zero net real growth budget for 2006 2007, excluding the support budget requirements for UNCDF.

Instead, after successive revisions, world GDP in 2012 is now expected to grow by only 3.3 while inflation is forecast to reach 4 , signaling much weaker global economic momentum than was anticipated. Lower than expected growth and higher than expected inflation have affected most economies.

Further growth in the use of such methods by traffickers was expected as a means of reducing their risk of interception.

The main culprit behind the languishing fortunes of America s middle class is slow wage growth. After peaking in the early 1970s, real (inflation adjusted) median earnings of full time workers aged 25 64 stagnated, partly owing to a slowdown in productivity growth and partly because of a yawning gap between productivity and wage growth.

Meanwhile, growth of demand is expected to remain sluggish and can be expected to be adversely affected by the East Asian crisis, and the coffee market is still under the threat of crop failures.

Corporate earnings in the first quarter improved sharply.

Official earnings average 1.5 to 2 per day.

The pension is, however, earnings related (see below).