Net EPS revisions continue to be negative, but the trend is slightly improving. Revisions in Japan are trending upwards, the same in the US. In the rest of the world numbers are still negative.
The pace of net EPS downgrades in Europe slowed down and improved in August to -15.4% from -24.9% and, even more important, the last 3-month EPS revisions have improved to -20.6% from -22.2%.
In Spain, EPS revisions of the last 3 months until August reached a record high of +35% from +11.4% in July, hitting the highest level ever registered (data since 1989).