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Corporate profits

The US economy raised at an annualized rate of 1.9% in the first three months of the year, somewhat more rapidly than formerly thought, official figures have shown.

This compares to a 0.5% monthly rise. The last estimate by the Commerce Department showed increase of 1.8%.This contrasts with an annualized rate of 3.1% in the final quarter of 2010.

US growth slowed in the first three months of 2011 to an annualized rate of 1.8%, which is a 0.4% quarterly rise, the Commerce Department said. This compares with an annualized increase rate of 3.1% in the final three months of 2010. The hold back was blamed on corporate profits randomly contracting for the first time in more than two years.

Posted by Dospel & GanjaParker