MW: U.S. Q3 before-tax corporate profits fall 9.0% yr-on-yr
By Greg Robb
WASHINGTON (MarketWatch) -- U.S. corporations' before-tax profits from current production fell 9.0% over the past year, the Commerce Department estimated Tuesday. This is the slowest annual rate since the third quarter of 2001, which included 9/11. In the third quarter, profits fell 0.9% to $1.52 trillion annualized in the third quarter. The government data are adjusted for inventory valuations and capital consumption.
