Corporate Profits As Percent Of GDP Slumps First Time Since 2008

The third estimate of 1st Quarter GDP showed the U.S. economy growing at an annual rate of 1.9 percent, unchanged from the second estimate. What did change was corporate profits, which fell during the first quarter to $1.980.5 billion from an initial estimate of $1.998.3 billion. This marks the first time corporate profits have declined quarter to quarter since the 4th quarter of 2008 when profits bottomed out at 7.5 percent of GDP at $1.175.2 billion and GDP contracted at an annual rate of -8.9 percent.





Source: The Mays Report ... Continue to read.

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