Economics
Here's More Proof the U.S. Economy Is Beating the Rest of the World
Corporate profits from abroad sank in the fourth quarter
This article is for subscribers only.
At first glance, the corporate profits data released today by the Commerce Department don't look good. Profits fell by 0.8 percent in 2014 from the prior year, the first decline since the middle of the recession.
Below the surface, however, the weakness was concentrated in earnings from abroad. It's the latest embodiment of the surge in the dollar as the U.S. recovery strengthens.