Profits for Major U.S. Firms to Rise 20% in '87 / Says Standard & Poors

THE JOURNAL RECORD, December 31, 1986 | Go to article overview

Profits for Major U.S. Firms to Rise 20% in '87 / Says Standard & Poors


NEW YORK (AP) - Profits of major U.S. corporations should increase about 20 percent in 1987 over this year, aided by a weaker dollar and continued economic growth, Standard & Poor's Corp. said Tuesday.

But while good earnings gains were expected for industries such as retailing and banking, the auto manufacturing and energy sectors will continue to see profits decline, the business-information company said.

Standard & Poor's said profits for corporations in its index of 500 companies were expected to rise 11.2 percent this year and 20 percent in 1987.

"With a weaker dollar, both exporters and companies that compete with foreign manufacturers in the U.S. are finally in for some good news," said David Blitzer, S&P chief economist.

A weaker dollar makes U.S. products relatively cheaper overseas, and has been a key tool in the Reagan administration's attempts to trim the nation's massive foreign trade deficit.

"Industry in general is going to benefit from continued economic growth, low inflation, and in some cases, tax reform. Plus, many industries have pared down inventories and instituted cost controls - key factors in profitability," Blitzer said.

A survey of selected industries by S&P analysts indicated profit gains of 10 percent to 15 percent for retailers, partly because of continued low inflation and cost cutting. …

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