The Bureau of Economic Analysis released new data showing that corporate profits reached an all-time nominal high in the second quarter of 2013.
Profits before tax rose to 12.53 percent of GDP from 12.22 percent in the previous quarter, as the following chart shows.
That was just fractionally short of the all-time high of 12.60 percent reached in the final quarter of 2011.
At the same time, the BEA confirmed that GDP grew by 2.5 percent, the same as the August estimate.
The Intelligent Investor: The Definitive Book on Value Investing. Benjamin Graham, Jason Zweig and Warren E. Buffett
Original content +Bob DeMarco , All American Investor