[Economic Indicators July, 1998]
[Page Number 8]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
CORPORATE PROFITS

In the first quarter of 1998, corporate profits before tax fell $17.3 
billion (annual rate) and profits after tax fell $7.9 billion. (Series 
revised.)
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                                                            [Billions of dollars; quarterly data at seasonally adjusted annual rates]                                                           
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                                                      Profits (before tax) with inventory valuation adjustment \1\                                         Profits after tax                    
                                            --------------------------------------------------------------------------------                     ------------------------------------           
                                                                                Domestic industries                           Profits                                                  Inventory
                   Period                              ---------------------------------------------------------------------  before      Tax                                          valuation
                                             Total \2\                                        Nonfinancial                      tax    liability    Total   Dividends  Undistributed  adjustment
                                                          Total   Financial ------------------------------------------------                                              profits               
                                                                             Total \3\  Manufacturing  Wholesale    Retail                                                                      
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1990.......................................      358.2     292.5       68.6      223.8        112.3         17.2      20.6      371.7      140.5     231.2     r143.9        r87.3         -13.5
1991.......................................      378.2     309.5       87.4      222.1         92.7         20.6      26.1      374.2      133.4     240.8     r147.2        r93.6           4.0
1992.......................................      398.9     334.0       83.7      250.3         96.3         23.0      32.2      406.4      143.0     263.4     r147.9       r115.5          -7.5
1993 ......................................      456.9     383.0       82.9      300.1        116.7         24.3      38.9      465.4      165.2     300.2     r157.6       r142.6          -8.5
1994 ......................................      519.1     445.7       69.4      376.3        151.6         29.4      46.0      535.1      186.6     348.5     r182.4       r166.1         -16.1
1995 r.....................................      613.0     523.4      104.6      418.8        183.9         26.2      43.3      635.6      211.0     424.6      205.3        219.3         -22.6
1996 r.....................................      679.0     582.6      110.7      471.8        195.6         37.9      51.8      680.2      226.1     454.1      261.9        192.3          -1.2
1997 r.....................................      741.2     642.2      130.0      512.3        214.4         49.8      61.2      734.4      246.1     488.3      275.1        213.2           6.9
                                                                                                                                                                                                
1994:III ..................................      535.0     460.7       81.3      379.5        151.6         27.3      47.2      556.2      194.6     361.6     r186.0       r175.6         -21.2
      IV ..................................      560.3     485.2       80.0      405.3        166.2         28.6      47.8      583.9      206.2     377.7     r195.3       r182.4         -23.6
                                                                                                                                                                                                
1995:I r...................................      572.6     487.5       93.9      393.6        170.3         22.8      42.5      610.5      202.9     407.6      197.1        210.5         -37.9
      II r.................................      595.5     502.3      104.2      398.1        176.9         21.2      41.9      629.4      207.6     421.9      199.0        222.8         -33.9
      III r................................      637.4     553.9      116.0      438.0        193.0         29.7      43.5      650.8      219.1     431.6      204.4        227.2         -13.4
      IV r.................................      646.5     550.0      104.4      445.6        195.4         31.1      45.3      651.8      214.3     437.5      220.7        216.8          -5.3
                                                                                                                                                                                                
1996:I r...................................      667.0     574.4      116.5      457.9        191.6         35.6      49.7      669.9      223.9     446.0      247.6        198.4          -2.9
      II r.................................      677.1     583.7      116.6      467.0        195.0         31.9      52.5      683.4      228.6     454.8      257.1        197.6          -6.2
      III r................................      683.0     589.4      111.7      477.7        197.3         37.7      53.8      681.9      227.7     454.2      269.1        185.1           1.2
      IV r.................................      688.7     582.8       98.0      484.8        198.6         46.3      51.2      685.7      224.2     461.5      273.6        187.9           3.0
                                                                                                                                                                                                
1997:I r...................................      720.5     624.0      127.7      496.3        200.8         48.3      60.8      712.4      238.8     473.6      274.1        199.5           8.1
      II r.................................      740.1     634.7      128.7      506.0        215.5         50.5      59.1      729.8      241.9     487.8      274.7        213.2          10.3
      III r................................      763.7     661.4      128.6      532.8        228.9         52.7      62.7      758.9      254.2     504.7      275.1        229.5           4.8
      IV r.................................      740.7     648.7      134.7      514.0        212.3         47.6      62.2      736.4      249.3     487.1      276.4        210.6           4.3
                                                                                                                                                                                                
1998:I r ..................................      744.3     645.8      136.3      509.4        197.1         51.5      67.4      719.1      239.9     479.2      277.3        201.8          25.3
      II p.................................  .........  ........  .........  .........  .............  .........  .........  ........  .........  ........      278.1  .............  ..........
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    \1\ See p. 4 for profits with 
inventory valuation and capital 
consumption adjustments.
    \2\ Includes rest of the world, 
not shown separately.
    \3\ Includes industries not 
shown separately.
    Note.--See Notes, pp. 1 and 5.

    Source: Department of Commerce, 
Bureau of Economic Analysis.