2024-03-29 04:58:00 ET
Summary
- Corporate pre-tax profits in all non-financial domestic industries combined jumped by 5.6% in Q4 from Q3.
- The BEA’s measure of corporate profits tracks profits from current production by all businesses that have to file corporate tax returns, including LLCs and S corporations, plus some organizations that do not file corporate tax returns.
- The spike in profitability in inflationary times is a sign that companies hiked prices much faster than their costs – including labor costs – went up.
Banks are having profit problems.
Corporate pre-tax profits in all non-financial domestic industries combined - this excludes our suffering banks and other financial companies - jumped by 5.6% in Q4 from Q3, and by 10.7% year-over-year to a record seasonally adjusted annual rate of $2.69 trillion, according to data by the Bureau of Economic Analysis today....
Read the full article on Seeking Alpha
For further details see:
Resurging Corporate Profits Show Inflationary Pressures Are Reheating After Lull: Corporate Profits By Major Industry