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Wall Street Journal: U.S. Corporate Profits See ‘Longest Slide in Earnings Since the Financial Crisis’

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U.S. corporate profits will decline for the third quarter in a row, according to a report by the Wall Street Journal.

This Thursday, Oct. 2, 2014, file photo, shows the facade of the New York Stock Exchange. Global stock markets were trading largely higher Tuesday, April 26, 2016, as traders digested a raft of corporate earnings statements from around the world in the run-up to the latest policy decisions from the U.S. Federal Reserve and the Bank of Japan. (AP Photo/Richard Drew, File)

U.S. corporate profits will decline for the third quarter in a row, according to a report by the Wall Street Journal.

Profits have suffered the “longest slide in earnings since the financial crisis,” the report states.

U.S. gross domestic product only grew by 0.5 percent in the first quarter.

According to Thomson Reuters, overall earnings will decline by 6.1 percent compared to the first quarter last year.

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