Considering the financial climate up until June, the earnings of Australian companies supervised by Citi have largely met predictions.

Citi has forecast a 14.6% decrease in earnings for the resources sector in FY23.

They also anticipate that earnings of banks will continue to be robust, predicting a 8.9% growth in FY23, although a decline is foreseen for FY24.

For the broader listed Australian market, Citi estimates a fall by 2.8% in earnings for fiscal 2023, compared to Visible Alpha’s estimate of 2.3%.

Citi further predicts a decrease by 3.7% for the fiscal year 2024.

Citi is an American multinational investment bank and financial services corporation.