March 26, 2017

Manufacturing Profits Continue Recovery

During the 2nd Quarter of 2010, after-tax profits of manufacturing corporations totaled $120.4 billion – $8.4 billion more than the 1st Quarter, according to the profit report [.pdf] released today. The manufacturing sector has gradually recovered and profits have risen 6 consecutive quarters following the 4th Quarter plummet in 2008, as the graph below from the Census Bureau shows. Additionally, the industry with the highest increase of profit for the quarter was basic chemical production, which grew $10.2 billion, whereas the industry with the highest decrease was petroleum and coal production, which declined $15 billion.

The current level is the most since the 2nd Quarter of 2007.

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