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How should I understand the "elevated levels" underlined in the sentence below?
Does it just mean "high levels", then why not use "high levels", what's the implied meaning here?
Thanks in advance.
Investors may be overpaying for current profits. The earnings forecasts of American equity analysts imply an increase in margins from current elevated levels, since they show earnings growing much faster than nominal GDP.
I could be mistaken, but I think that "elevated" implies a deviation from "normal" where "high" is simply a statement about the position on a scale.
For instance, gasoline prices are "high" right now, but this seems to be the new normal. Now, if we have a hurricane wipe out a refinery or a war in the middle east, then gas prices may be elevated.