- Second-quarter GDP growth revised to 6.6% rate
- Corporate profits surge to fresh record high
- Weekly jobless claims rise 4,000 to 353,000
WASHINGTON, Aug 26 (Reuters) – U.S. corporate profits surged to a fresh record high in the second quarter, boosted by robust demand and higher prices, suggesting that an anticipated slowdown in economic growth this quarter because of soaring COVID-19 cases could be temporary.
The jump in profits reported by the Commerce Department on Thursday was despite businesses…