AN ANALYSIS OF US THIRD QUARTER PROFITS WITH AND WITHOUT SUBSIDIES.

The top Download is the article and the bottom two Downloads are the supporting spreadsheets. This post was made possible by the preliminary release of corporate profits on the 24th of November by the BEA. Please note, I have replaced the original spreadsheet Table 1.14. On reflection I decided to refine the subsidies falling to the non-financial sector by removing the share going to the financial sector. It has subsequently transpired that over the last two quarters all the subsidies have gone to the non-corporate sector, thus the apportioning has not altered the rate of profit over this period which was first estimated to stand at 4.8% pre-tax in the third quarter.