Canadian corporations have begun to show signs of recovery from the economic downturn after posting $54.1 billion in operating profits for the third quarter of 2009, a 7.9 per cent rise over the previous quarter.
This is the first such increase in a year, with the country's corporations having seen three consecutive quarterly declines, according to Statistics Canada.
Manufacturers in particular saw a strong bounce, with $9.4 billion in operating profits marking a 28.6 per cent jump from the previous quarter.
Transportation and warehousing made $2.8 billion in profits, up 14.8 per cent. Most of this is attributed to airlines, which reported higher profits, although industry revenue is still down from one year ago.
Operating profits for the financial industries have remained flat, however, sitting at a 0.3 per cent increase for the quarter after three straight quarterly declines. Bad weather and higher claims led to big declines for property and casualty insurance carriers, which were somewhat offset by gains in banking.
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