Profits Are Down in America Inc - GV Wire - Explore. Explain. Expose
Connect with us


Profits Are Down in America Inc



Photo of stock market down
Share with friends


It’s not that bad,” remarked Jamie Dimon, boss of JP Morgan Chase, of the global economy on July 16th. But, Wall Street’s favourite banker had to concede, business sentiment “is a little bit worse”. Prospects for American companies have indeed dimmed. Analysts expect earnings of the biggest among them, which have just begun reporting their latest set of results, to have declined in the second quarter.
This would mark two consecutive quarters of falling profits, the first such “earnings recession” since 2016. Coming just as the current economic expansion makes history as America’s longest ever, it raises the prospect of a long boom running out of steam. Bosses are getting twitchy.

Read More →

Continue Reading
Advertisement GVwire