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. Last Updated: 07/27/2016

U.S. Industry Profits

WASHINGTON -- U.S. manufacturers made significantly higher profits in the third quarter, the Commerce Department said Monday, despite signs that many industries were being hurt by slowing exports to Asia.

Total after-tax profits of 8,300 manufacturers surveyed climbed to a seasonally adjusted $60.4 billion in the July-September quarter from $51.38 billion in the second quarter. That means profits averaged 6.1 cents per dollar of sales, on total seasonally adjusted sales of $989.67 billion, an increase from 5.2 cents on second-quarter sales of $981.1 billion.

Previous reports from industry groups like the National Association of Purchasing Management had indicated a slowing pace of manufacturing activity during the third quarter, partly because sales to ailing overseas economies were falling.