WASHINGTON - Manufacturing profits were up for the first quarter of 2007 according to a report by the U.S. Commerce Department.
The seasonally adjusted after-tax profits of U.S. manufacturing corporations totaled $119.0 billion. This is an increase of approximately $6.3 billion from the $112.9 billion recorded in the fourth quarter of 2006, but down $3.7 billion from the first quarter of 2006.
First quarter seasonally adjusted sales for these manufacturers totaled $1,463.9 billion, up about $22.1 billion from the fourth quarter of 2006 and up $25.8 billion from the totals in the first quarter of 2006.
Durable goods manufacturing profits were up $3.1 billion to $51.0 billion and seasonally adjusted sales for durable goods was up $11.5 billion.
Non-durable goods from U.S. manufacturers also had an increase for the first quarter of 2007. After-tax profits were $68.1 billion, up approximately $3.1 billion from the fourth quarter of 2006.
Between 2003 and 2006, after-tax profits of U.S. manufacturers also increased, despite quarterly variations.
The data collected by the U.S. Census Bureau is based on quarterly financial reports from approximately 8,400 U.S. manufacturing corporations.
Source: U.S. Census Bureau
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