Back in the BlackBack in the Black

Christina Mucciolo

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.