U.S. corporate profits fell significantly in the first quarter of 2025, dropping 118.1 billion U.S. dollars following a 204.7 billion U.S. dollars increase in the previous quarter, according to the U.S. Department of Commerce's Bureau of Economic Analysis.
Data released by the bureau on Thursday showed that consumer spending, the main driver of economic growth, grew by only 1.2 percent in the first quarter, significantly below previous expectations.
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US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
The decline in automobile sales, along with reduced spending on services such as health-care and insurance, showed underlying weakness in consumer demand, said the bureau.
The U.S. government's tariff policies have led several American companies, including retail giant Walmart, to warn that consumers may soon see price increases.
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
US corporate profits drop 118.1 bln USD in Q1
The Republic of Korea (ROK) and China should cherish the historical experience of jointly resisting aggression and continue to work together for a prosperous future, said ROK President Lee Jae Myung.
At the invitation of Chinese President Xi Jinping, Lee will pay a state visit to China from Jan 4 to 7. It will be Lee's first visit to China since he took office last year.
In an interview with China Media Group (CMG) in Seoul on Wednesday, Lee said that humanity must learn from the past to prevent the tragedy of war from repeating itself.
"While pursuing their own national interests to the fullest extent, countries must not harm the national interests of others, but should coexist peacefully. The act of invading other countries and massacring their people for one's own benefit must never be repeated. History of humanity often repeats itself, therefore we must learn from the past. In this regard, I believe the historical experience of ROK and China in resisting aggression and fighting together is invaluable. Of course, while historical experience is important, we cannot remain stuck in the past. For a better future for the people of both countries, we need to continuously explore possibilities for working together towards the future," said the president.
ROK president calls for learning lesson from anti-aggression history
ROK president calls for learning lesson from anti-aggression history
