Corporate profits fuel US recession fears

US companies’ share of the economic pie has begun shrinking after a record-breaking run, fuelling fears that corporate America’s profitability is heading for a prolonged downturn.

The fall in the share of economic activity taken up by corporate profits – revealed in official figures released on Thursday – will deepen Wall Street’s concerns over the ability of companies to grow earnings amid a slowing economy and rising cost pressures.

“Profits growth has turned decisively down and the end is not yet in sight,” wrote Gabriel Stein of Lombard Street research in a note to clients on Thursday.

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- Posted: 2007-03-29 13:30:41

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