THE ECONOMY

Manufacturers’ Sales, Profits Dip in 2nd Quarter: The Commerce Department’s quarterly survey of about 9,200 companies showed that profits eased down in the second quarter to a seasonally adjusted 6.0 cents per dollar of sales from a revised 6.2 cents in the first quarter of the year. Previously, the department estimated profits in the first quarter at 6.1 cents per sales dollar. That was consistent with other broad measures of economic activity that showed a sharp slowdown in the pace of the expansion during the second quarter. Profits after taxes during the second quarter were a seasonally adjusted $52.42 billion on net sales of $871.87 billion. In the first quarter, by contrast, profits were a stronger $53.89 billion on higher net sales of $874.04 billion.