World regions driving Q3 equities rally

The third quarter (Q3) of 2003 saw a continuation from the previous quarter of a global equity rally, stimulated in part by growing confidence and positive economic data. European and US equities grew at a much slower rate than those of other regions, and cost-cutting practices by US companies intended to increase growth may have detrimental long-term effects. In contrast to Europe and the US, other regional markets such as those in Japan, China, and other Pacific regions experienced much greater equity returns, driving the global economic recovery.