With the corporate earnings season now underway, for this week's Economics Weekly, we thought it useful to take a quick peek at the current earnings picture. We first take a look at the third quarter and then widen the lens to growth for this year and next. We also contrast the picture here with what we are seeing from the national income and product accounts (NIPA) version of corporate profits to provide a more rounded perspective on underlying corporate profitability.

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Richard de Chazal, CFA is a London-based macroeconomist covering the U.S. economy and financial markets.