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BRIEFLY

September 21, 1987

The Commerce Department reported that after-tax corporate profit climbed 4.3% in the April-June quarter, the best showing since last fall. Commerce said the rise in corporate profit in the second quarter followed a 3.7% drop in profit in the first quarter and was the best performance since last year's July-September quarter, when profit climbed 6.5%. Analysts attributed part of the gain to higher export sales by U.S. manufacturers during the spring. The increase left after-tax profit at an annual rate of $134.5 billion in the second quarter. Profit before taxes rose 4.6% to an annual rate of $268.7 billion following a 3.7% increase in the first quarter.

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