U.S. manufacturers’ seasonally adjusted after-tax profits in the third quarter of 2021 totaled $254.6 billion, up $5.2 billion from the $249.4 billion recorded in the second quarter of 2021, and up $118.4 billion from the $136.2 billion recorded in the third quarter of 2020, according to a report released by the U.S. Census Bureau.
Seasonally adjusted sales for the quarter totaled $1,821.3 billion, up $38.4 billion from the $1,782.9 billion recorded in the second quarter of 2021, and up $297.5 billion from the $1,523.8 billion recorded in the third quarter of 2020.
Nondurable goods manufacturers’ seasonally adjusted after-tax profits were $107.9 billion, a $1.8 billion drop from the previous quarter.
Durable goods manufacturers’ seasonally adjusted after-tax profits were $146.7 billion, up $7.1 billion from 2Q.
Wholesale trade corporations’ seasonally adjusted sales for the quarter totaled $865.6 billion, up $19.3 billion from the prior quarter.
Economic activity in the manufacturing sector also grew in November, with the overall economy achieving an 18th consecutive month of growth, according to the latest Manufacturing ISM Report on Business.
The post 3Q Manufacturing Profits Rise appeared first on Modern Distribution Management.
