5:44 am October 18, 2010, by Henry Unger
Maybe, just maybe, we’ve been through the worst.
Many of Georgia’s businesses are expected to rake in the profits in the final months of 2010, AJC staffer Russell Grantham reports.
Wall Street analysts project that profits will be up by double-digit rates at most of Georgia’s largest publicly traded companies, and generally could match their profits in late 2007, when the worst recession in decades was just beginning.
Fourth-quarter profits at package shipper UPS, consumer products firm Newell Rubbermaid and money manager Invesco, for instance, are expected to be up more than 30 percent compared to last year, Grantham writes.
Despite the profit rebound, there are still plenty of causes for worry about the economy in coming months, even though the recession officially ended 16 months ago.
Much of the profit growth is coming from earlier cost-cutting by companies rather than rising sales, say experts, and stubborn unemployment and mounting government debt are feeding continued gloom, Grantham reports.
Still, some business leaders and economists say there are signs that consumers are beginning to spend more and companies are beginning to sell more in the fourth quarter, Grantham writes.
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