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Economy

March 27, 1993|From Times Staff and Wire Reports

Corporate Profits Up Last Year: U.S. corporations boosted their after-tax profits by 10% in 1992, the best showing in four years, the Commerce Department said. Profits totaled $231.8 billion, up from $210.7 billion a year earlier. It was the biggest increase since a 30.9% surge in 1988. Profits dropped by 4.2% in 1989, jumped 8.5% in 1990 and fell 3.7% in 1991. Sung Won Sohn, a Norwest Corp. economist, attributed last year's increase to higher productivity, but said performance will probably flatten out this year. "Corporations and most businesses have been laying off people and employing more machines and capital to enhance productivity," he said. "Sooner or later, this will have to slow down."

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