The following chart shows the 3-year moving average of corporate profits after tax with inventory valuation adjustment (IVA) and capital consumption adjustment (CCAdj) divided by personal consumption expenditures.
Click to enlarge.
The local peaks are shown in red.
The long-term median is shown in blue.
Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one. - Charles Mackay
Source Data:
St. Louis Fed: Custom Chart
Philly Fed: State Coincident Indexes Increased in 44 States in March
(3-Month Basis)
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From the Philly Fed:
The Federal Reserve Bank of Philadelphia has released the coincident
indexes for the 50 states for March 2024. Over the past three mo...
2 hours ago
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