Earnings: The First Half

Going into the second half of 1968, the Commerce Department last week reported that in the first six months of the year, the U.S. economy grew at a real rate (i.e., not including inflation) of 5%. In the second quarter, the nation's output of goods and services increased by $19.6 billion, which was only a shade under the first quarter's record $20.2 billion. Corporate profits more than kept up the brisk pace. Among the early reports:

>IBM added up a record-setting quarter, with profits of $213 million, 46% above the same period...

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