Goldman Slashes Outlook For S&P Profits. Sees No Growth

Goldman Slashes Outlook For S&P Profits. Sees No Growth

For the first time since the pandemic, corporate margins contracted in the US. Net margins fell by more than 40bps YoY in Q3, as labor costs continued to rise (albeit at a slightly slower rate depending on your preferred gauge), while both goods and services inflation were extremely elevated throughout the quarter. The 43bps worth of contraction was actually better than expected, but the figure is flattered by energy. Excluding energy, S&P 500 net margins contracted 137bps, according to Go
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