American Businesses Just Had Their Best Quarter Ever
Corporate profits were the highest ever recorded last quarter, with American businesses bringing in $1.66 trillion when adjusted for annual rates. The Bureau of Economic Analysis just issued its report.
Corporate profits have been going gangbusters for a while. Since their cyclical low in the fourth quarter of 2008, profits have grown for seven consecutive quarters, at some of the fastest rates in history.
The increase in output in the third quarter was driven primarily by stronger consumer spending. Private inventory investment, nonresidential fixed investment, exports and federal government also grew.
So, based on the trickle-down theory, shouldn’t these profit-making entrepreneurs now be hiring?Click here for reuse options!
Copyright 2010 Liberaland