Skip to Content
AP National Business

Hot inflation slows 3Q earnings growth forecasts

KVIA
By
Published 6:10 AM

By DAMIAN J. TROISE
AP Business Writer

Wall Street expects the latest round of quarterly profits to show burn marks from the hottest inflation in four decades, and the damage could linger into 2023. Analysts have been trimming their forecasts for companies as inflation drives up costs and saps consumer spending on everything from food to clothing. Companies within the broad S&P 500 index are expected to notch earnings growth of roughly 2.6%, down from June projections of 9.5% growth. If it holds, that would be the S&P’s slowest growth since the third quarter of 2020, according to an analysis from FactSet.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content