Economy

The nation’s manufacturers reported after-tax profits of $19 billion during the first three months of the year, down $200 million from the 1990 fourth quarter, the Commerce Department reported. The data was adjusted for seasonal factors. The dip came as a 15.7% increase in profit for companies that produce non-durable items failed to offset a massive 66.2% plunge in the after-tax profit of companies that produce big-ticket durable goods. Leading the charge in the non-durable goods sector, where profit was up $2.3 billion, was food. Petroleum was unchanged from the last quarter.