The End Of The Slide?

The global economy can be a blessing, it can be a curse, and sometimes it can be both at once. Just look at corporate profits. Even though the recession didn't officially begin until the third quarter of 1990, earnings had been falling for more than a year before (chart), partly because of tough price competition from foreign companies. But after the U. S. economy slipped into recession, earnings of American companies held up fairly well because they got a boost from overseas.

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