U.S. corporate profits on the rise for Q2

Profits for domestic financial industries reached a total of 457.9 billion USD for the second quarter of 2018 according to the second GDP estimate of Q2 released by the Bureau of Economic Analysis on August 29. Profits for financial industries rose 16.7 billion USD after falling by 9.3 billion USD on the first quarter of this year. The financial sector profits totaled 19.2 billion or 4% more than same time last year and have reached their second highest point in the past year.

Meanwhile the profits for non-financial industries reached an all-time high since the second quarter of 2017 totaling $1,313.10 billion USD or about $81.6 billion USD more when compared to the same quarter last year. Non- financial industry profits have been steadily going up since the third quarter of 2017 with the biggest jump consisting of $63.6 billion USD from the first quarter of 2018 to the second.