Q2 manufacturing dips
The U.S. Census Bureau reported Q2 U.S. manufacturing corporations' seasonally adjusted after-tax profits in the second quarter of 2023 totaled $206.1 billion, down $21.8 (±0.6) billion from the after-tax profits of $227.9 billion recorded in the first quarter of 2023, and down $64.3 (±1.3) billion from the after-tax profits of $270.4 billion recorded in the second quarter of 2022.
Seasonally adjusted sales for the quarter totaled $1,994.3 billion, down $43.5 (±6.4) billion from the $2,037.8 billion recorded in the first quarter of 2023, and down $140.0 (±43.4) billion from the $2,134.2 billion recorded in the second quarter of 2022.
Nondurable Goods Manufacturers
Nondurable goods manufacturers' seasonally adjusted after-tax profits in the second quarter of 2023 totaled $87.2 billion, down $16.9 (±0.9) billion from the after-tax profits of $104.1 billion recorded in the first quarter of 2023, and down $56.3 (±1.2) billion from the after-tax profits of $143.5 billion recorded in the second quarter of 2022.
Seasonally adjusted sales for the quarter totaled $982.8 billion, down $38.0 (±2.9) billion from the $1,020.8 billion recorded in the first quarter of 2023, and down $150.7 (±22.5) billion from the $1,133.5 billion recorded in the second quarter of 2022.
Durable Goods Manufacturers
Durable goods manufacturers' seasonally adjusted after-tax profits in the second quarter of 2023 totaled $118.9 billion, down $4.9 (±1.2) billion from the after-tax profits of $123.8 billion recorded in the first quarter of 2023, and down $8.0 (±1.4) billion from the after-tax profits of $126.9 billion recorded in the second quarter of 2022.
Seasonally adjusted sales for the quarter totaled $1,011.5 billion, down $5.5 (±4.2) billion from the $1,017.0 billion recorded in the first quarter of 2023, but not statistically different from the $1,000.7 billion in the second quarter of 2022.
Wholesale Trade Corporations
Wholesale trade corporations' seasonally adjusted sales for the quarter totaled $964.2 billion, not statistically different from the $970.3 billion in the first quarter of 2023, and not statistically different from the $968.1 billion in the second quarter of 2022.
Manufacturing Corporations
U.S. manufacturing corporations' second quarter 2023 unadjusted after-tax profits totaled $213.9 billion, down $64.1 (±1.3) billion from the after-tax profits of $278.0 billion recorded in the second quarter of 2022, and down $7.1 (±0.6) billion from the after-tax profits of $221.0 billion recorded in the first quarter of 2023.
Unadjusted sales for the second quarter of 2023 totaled $2,039.6 billion, down $143.7 (±43.4) billion from the $2,183.3 billion recorded in the second quarter of 2022, but up $67.2 (±6.4) billion from first quarter 2023 sales of $1,972.4 billion.
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
