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ASX profits slashed at fastest pace since COVID amid recession fears

The Australian Financial Review (AFR) •
November 04, 2026 • 04:59 AM
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Within just four months, analysts have halved their earnings forecasts for the financial year to just 7 per cent.

ASX profits slashed at fastest pace since COVID amid recession fears

Profit forecasts for the country’s largest companies are being slashed at the fastest pace since the COVID-19 pandemic as an aggressive round of interest rate rises from the Reserve Bank of Australia threatens to plunge the economy into recession.

A wave of earnings downgrades that started in June extended into the annual general meeting season in September and October as trading updates showed consumers were delaying purchases and reining in spending to cope with higher borrowing costs and oil prices.

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