make WWAY your homepage  Become a fan on facebook  Follow us on twitter  Receive RSS Newsfeeds  MEMBERS: Register | Login

Corporate earnings show country's economic health

READ MORE:
There is always a lot of speculation about the health of the economy. Every three months, we get an update on how things are going. Corporate earnings provide a window into the good and the bad of our country's economic health. Fed chairman Ben Bernanke has been on Capitol Hill for the past few days, talking about his predictions for the future US economy. But on Wall Street we're getting a good look at how the economy is doing today. Earnings season -- the period where companies tell investors how much they made in the past three months -- is underway. According to reports compiled by Thompson Financial, the April to June profits for companies are expected to grow by almost five-per cent when compared to last year. Leading the profit growth are companies like General Electric: old line industrial firms are expected to post 10-per cent growth this quarter. Companies like General Mills that make consumer staples are showing the second highest growth -- nine percent year over year. But it's not all good news. Poor sales of new cars and homes are causing the consumer discretionary sector to shrink by 13 percent this quarter. If you take away the car and home building companies, the negative number goes away -- more proof that the slumps in both sectors are a big drag on the economy.

Disclaimer: Comments posted on this, or any story are opinions of those people posting them, and not the views or opinions of WWAY NewsChannel 3, its management or employees. You can view our comment policy here.

»

Reply

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

More information about formatting options

To prevent automated spam submissions leave this field empty.
CAPTCHA
Please re-enter the code shown in the image below.