The Profit Party Is Getting Quieter

Earnings growth is expected to begin tailing off fast in '98

What a long, straight trip it's been. Out of the depths of the early 1990s recession, U.S. corporate profits entered a seeming Golden Age, driven by forces from the payback of sweeping restructuring to the opening of new markets abroad. And the underpinnings of a continued domestic expansion are firmly in place: inflation is repressed, consumer confidence is high, and real wages are once again rising.

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