Economic Positives

New data from the U.S. Bureau of Economic Analysis shows total corporate profits in the third quarter grew 3.3% to an annualized rate of $3.28 trillion. The all-time peak of $3.3 trillion was reached a year ago, Axios Markets co-author Matt Phillips writes. A GDP revision showed the economy grew at a 5.2% annual rate in Q3 — much higher than preliminary estimates, Axios Macro’s Neil Irwin and Courtenay Brown report.