Corporate profits remained elevated in Q2

Kevin DrumAugust 30, 2023 – 10:38 amAugust 30, 2023 – 11:27 am4 Comments

Nonfinancial corporate profits remained elevated in Q2 but were flat compared to Q1:

The pandemic turned out to be great for corporations, if for no one else, but the last few quarters have shown a slow decline since profits peaked in mid-2022. I wouldn't be surprised to see a further decline in Q3.

4 thoughts on “Corporate profits remained elevated in Q2”

Teacher August 30, 2023 – 11:06 am at

Doesn't this almost exactly match the path of inflation over the last couple of years? Corporations initially raised prices due to supply pressures, then just kept raising when they realized they could and what do you know - corporate profits....oh yeah... and inflation!!!
1. skeptonomist August 30, 2023 – 11:44 am at
  
  Corporate profits started rising in 3rd quarter 2020, well before inflation did in March 2021:
  
  https://fred.stlouisfed.org/graph/fredgraph.png?g=18fdV
  
  Profits scarcely fell in the recession itself.
KJK August 30, 2023 – 11:21 am at

Any indication on how much the windfall corporate profit increase impacted inflation?
1. cmayo August 31, 2023 – 4:36 pm at
  
  By about 100%.

Comments are closed.

I started blogging in 2002 at my own site. In 2004 I got hired by the Washington Monthly and then moved to Mother Jones in 2008, where I blogged and wrote for the print magazine for 12 years. Finally, in 2021, I came full circle, leaving MoJo to once again blog at my own site.

Prior to blogging, I was vice president of marketing for Kofax Image Products, a software company in Irvine, California. I’m married, no kids, two cats. In 2014 I was diagnosed with multiple myeloma, a cancer of the bone marrow. It’s currently incurable, but modern treatments are pretty good and I remain alive and hopeful that a cure is on the way.