Last Thursday’s GDP release (Q3, 2nd Estimate) was accompanied by the BLS Corporate Profits report (preliminary) 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) showing the Corporate Profits After Tax (last updated 11/29/12, with a value of $1752.2 Billion) :
Here is the Corporate Profits After Tax measure shown on a Percentage Change from a Year Ago perspective:
Other depictions of 3rd Quarter Corporate Profits can be seen in the New York Times Economix blog post of November 29 titled “Record Corporate Profits.”
The Special Note summarizes my overall thoughts about our economic situation
SPX at 1412.16 as this post is written