America’s economy is booming. Why aren’t its bosses happier?
Companies’ earnings calls have hardly been celebratory
Good news about America’s economy seems to keep rolling in. In the third quarter gdp expanded by a barnstorming 4.9% in annualised terms. Heading into earnings season, the month or so each quarter when most firms report their latest results, a stream of upbeat economic figures led stockmarket analysts to hold their profit expectations for the quarter steady, rather than trim them as they normally do. Many called the end of America’s corporate-earnings recession.
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This article appeared in the Business section of the print edition under the headline “Autumn blues”
Business November 4th 2023
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From the November 4th 2023 edition
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