[Economic Indicators May, 1999]
[Page Number 8]
[From the U.S. Government Publishing Office, www.gpo.gov]



 
CORPORATE PROFITS

In the first quarter of 1999, according to preliminary estimates, 
corporate profits before tax rose $30.3 billion (annual rate) and 
profits after tax rose $20.1 billion.
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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     Tax                                          Inventory
                      Period                                                                     Nonfinancial                 before   liability                       Undistributed   valuation
                                                    Total\2\                      ------------------------------------------    tax                 Total   Dividends     profits     adjustment
                                                                Total   Financial             Manufac-   Whole-
                                                                                   Total\3\    turing     sale      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      143.9         87.3         -13.5
1991.............................................      378.2     309.5       87.4     222.1       92.7      20.6      26.1      374.2      133.4     240.8      147.2         93.6           4.0
1992.............................................      398.9     334.0       83.7     250.3       96.3      23.0      32.2      406.4      143.0     263.4      147.9        115.5          -7.5
1993.............................................      456.9     383.0       82.9     300.1      116.7      24.3      38.9      465.4      165.2     300.2      157.6        142.6          -8.5
1994.............................................      519.1     445.7       69.4     376.3      151.6      29.4      46.0      535.1      186.6     348.5      182.4        166.1         -16.1
1995.............................................      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.............................................      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.............................................      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
1998 ............................................      732.3     636.6      134.2     502.4      192.8      51.3      67.2      717.8      240.1     477.7      279.2        198.5          14.5
 
1995:III.........................................      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.........................................      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...........................................      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.........................................      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........................................      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.........................................      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...........................................      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.........................................      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........................................      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.........................................      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...........................................      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.........................................      731.3     633.9      134.4     499.5      194.6      53.5      67.4      723.5      241.6     481.8      278.1        203.7           7.8
      III .......................................      732.1     642.2      133.2     509.0      195.0      53.9      67.1      720.5      243.2     477.3      279.0        198.3          11.7
      IV ........................................      721.5     624.7      133.0     491.7      184.5      46.3      66.8      708.1      235.6     472.5      282.3        190.2          13.4
 
1999:I p.........................................      748.8     649.0      141.8     507.2  .........  ........  .........     738.4      245.8     492.6      285.6        207.1          10.4
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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.
    Source: Department of Commerce, 
Bureau of Economic Analysis.