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U.S. Economic Growth Revised to 2% in Second Quarter; Corporate Profits Rose


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U.S. Economic Growth Revised to 2% in Second Quarter; Corporate Profits Rose



WASHINGTON—Economic growth was weaker during the second quarter than previously estimated, but U.S. corporate profits rebounded strongly.

A key measure of corporate profits—after taxes, without inventory valuation and capital consumption adjustments—rose 4.8% from the prior quarter, the Commerce Department said Thursday. That came after corporate profits dropped 1.5% in both the first quarter and the fourth quarter of 2018.

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