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Tuesday, October 22, 2019
HomeNewsCompanies3Q Corporate Profits Rose $91.6 Billion, 10% Annually

3Q Corporate Profits Rose $91.6 Billion, 10% Annually

Pedestrians walk through the Canary Wharf financial district of London January 16, 2009. (Photo: Reuters)
Pedestrians walk through the Canary Wharf financial district of London January 16, 2009. (Photo: Reuters)

Pedestrians walk through the Canary Wharf financial district of London January 16, 2009. (Photo: Reuters)

Profits from current production — corporate profits with inventory valuation adjustment and capital consumption adjustment — rose $91.6 billion in the third quarter (3Q), compared with an increase of $14.4 billion in the second quarter (2Q).

Profits of domestic financial corporations increased $60.6 billion in the 3Q, in contrast to a decrease of $33.8 billion in the 2Q. Profits of domestic non-financial corporations increased $12.5 billion, compared with an increase of $59.1 billion.

Rest-of-the-world profits gained $18.6 billion juxtaposed to a decrease of $10.8 billion in the previous quarter.

In the 3Q, receipts increased $23.1 billion and payments gained $4.6 billion.

Meanwhile, gross domestic product in the 3Q was revised higher to 3.3% compared to the 3.0% gain in the advance estimate.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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