Corporate Profits As A Percentage Of GDP

In the last post (“3rd Quarter 2021 Corporate Profits“) I displayed, for reference purposes, a long-term chart depicting Corporate Profits After Tax. There are many ways to view this measure, both on an absolute as well as relative basis. One relative measure is viewing Corporate Profits as a Percentage of GDP.  I feel that this …

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3rd Quarter 2021 Corporate Profits

Today’s (November 24, 2021) GDP release (Q3 2021, Second Estimate) was accompanied by the Bureau of Economic Analysis (BEA) Corporate Profits report (Preliminary Estimate) for the 3rd Quarter. Of course, there are many ways to adjust and depict overall Corporate Profits.  For reference purposes, here is a chart from the St. Louis Federal Reserve (FRED) …

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Durable Goods New Orders – Long-Term Charts Through October 2021

Many people place emphasis on Durable Goods New Orders as a prominent economic indicator and/or leading economic indicator. For reference, below are two charts depicting this measure. First, from the St. Louis Fed site (FRED), a chart through October 2021, updated on November 24, 2021. This value is $260,087 ($ Millions): (click on charts to …

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Money Supply Charts Through October 2021

For reference purposes, below are two sets of charts depicting growth in the money supply. The first shows the M1, defined in FRED as the following: Before May 2020, M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) demand deposits at commercial banks (excluding those …

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The U.S. Economic Situation – November 23, 2021 Update

Perhaps the main reason that I write of our economic situation is that I continue to believe, based upon various analyses, that our economic situation is in many ways misunderstood.  While no one likes to contemplate a future rife with economic adversity, current and future economic problems must be properly recognized and rectified if high-quality, …

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Updates Of Economic Indicators November 2021

The following is an update of various indicators that are supposed to predict and/or depict economic activity. These indicators have been discussed in previous blog posts: The November 2021 Chicago Fed National Activity Index (CFNAI) updated as of November 22, 2021: The CFNAI, with a current reading of .76: source:  Federal Reserve Bank of Chicago, Chicago Fed National …

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Trends Of S&P500 Earnings Forecasts

S&P500 earnings trends and estimates are a notably important topic, for a variety of reasons, at this point in time. FactSet publishes a report titled “Earnings Insight” that contains a variety of information including the trends and expectations of S&P500 earnings. For reference purposes, here are two charts as seen in the “Earnings Insight” report of November …

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S&P500 Yearly EPS Estimates From Industry Analysts For 2021-2023

As many are aware, Refinitiv publishes earnings estimates for the S&P500.  (My other posts concerning S&P earnings estimates can be found under the S&P500 Earnings tag) The following estimates are from Exhibit 24 of the “S&P500 Earnings Scorecard” (pdf) of November 12, 2021, and represent an aggregation of individual S&P500 component “bottom up” analyst forecasts.  For reference, the …

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