Profits on the Rise

The latest estimate for fourth-quarter 2010 GDP is for an increase of 3.1%. GDP grew 2.9% for the entire year, following a drop of 2.6% in 2009 and no growth in 2008. The expansion in 2010 was the strongest since 2005. Corporate profits bounced back faster than the overall GDP. Operating earnings rose 29%, due to strong gains in the financial sector and in manufacturing. Profits at financial firms rose 50%, after increasing 89% in 2009. These profits had dropped a total of 75% in 2007 and 2008. Manufacturing earnings gained 72% last year, following a decline of...

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