Corporate America is coming off one of its strongest profit quarters in years, with companies across retail, technology and manufacturing reporting higher earnings even as consumers contend with persistent inflation and signs of slowing spending.
Profits from current production across U.S. corporations increased by $400.9 billion in the second quarter, compared with a $74.4 billion increase in the first three months of the year, the Bureau of Economic Analysis said last week. The increase came even as U.S. economic growth slowed to an annualized 1.5% during the quarter.
