U.S. corporate profits jumped 30.6 percent in the fourth quarter versus the previous year, primarily driven by the financial sector, which accounted for 85 percent of that increase.
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U.S. corporate profits jumped 30.6 percent in the fourth quarter versus the previous year, primarily driven by the financial sector, which accounted for 85 percent of that increase, according to a report from David Rosenberg, chief economist at Gluskin Sheff. Financial sector profits jumped an “unprecedented” 240 percent, while total nonfinancial earnings grew 5 percent versus the previous year.
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