U.S. Manufacturers' Q3 Profits Nearly Doubled Year-Over-Year, Narrow Sequential Improvement

I Stock 1058859950 (3)
iStock

On Dec. 7, the U.S. Census Bureau announced the following seasonally adjusted quarterly after tax profits for manufacturing industries statistics for Third Quarter 2021:

Ergasg

After-Tax Profits and Sales, Third Quarter 2021 – Seasonally-Adjusted Manufacturing Corporations

U.S. manufacturing corporations' seasonally-adjusted after-tax profits in the third quarter of 2021 totaled $254.6 billion, up $5.2 (±1.0) billion from the after-tax profits of $249.4 billion recorded in the second quarter of 2021, and up $118.4 (±2.5) billion from the after-tax profits of $136.2 billion recorded in the third quarter of 2020. Seasonally-adjusted sales for the quarter totaled $1,821.3 billion, up $38.4 (±11.7) billion from the $1,782.9 billion recorded in the second quarter of 2021, and up $297.5 (±33.5) billion from the $1,523.8 billion recorded in the third quarter of 2020.

Nondurable Goods Manufacturers

Nondurable goods manufacturers' seasonally-adjusted after-tax profits in the third quarter of 2021 totaled $107.9 billion, down $1.8 (±0.3) billion from the after-tax profits of $109.8 billion recorded in the second quarter of 2021, but up $66.5 (±1.1) billion from the after-tax profits of $41.4 billion recorded in the third quarter of 2020. Seasonally-adjusted sales for the quarter totaled $918.5 billion, up $54.1 (±6.1) billion from the $864.4 billion recorded in the second quarter of 2021, and up $219.0 (±15.4) billion from the $699.5 billion recorded in the third quarter of 2020.

Durable Goods Manufacturers

Durable goods manufacturers' seasonally-adjusted after-tax profits in the third quarter of 2021 totaled $146.7 billion, up $7.1 (±0.7) billion from the after-tax profits of $139.6 billion recorded in the second quarter of 2021, and up $51.8 (±1.5) billion from the after-tax profits of $94.8 billion recorded in the third quarter of 2020. Seasonally-adjusted sales for the quarter totaled $902.9 billion, down $15.7 (±6.0) billion from the $918.5 billion recorded in the second quarter of 2021, but up $78.5 (±18.6) billion from the $824.3 billion recorded in the third quarter of 2020.

Wholesale Trade Corporations

Wholesale trade corporations' seasonally-adjusted sales for the quarter totaled $865.6 billion, up $19.3 (±10.9) billion from the $846.3 billion recorded in the second quarter of 2021, and up $161.0 (±12.3) billion from the $704.6 billion recorded in the third quarter of 2020.    

More in Economy