Manufacturer’s profits fell in the fourth quarter.

The Commerce Department reported that after-tax profits averaged 4.1 cents per dollar of sales in the final three months of 1984, down 9% from the July to September quarter. Fourth-quarter profits dropped 0.4 cent from the 4.5 cents per dollar of sales posted as profits during the third quarter of last year, the department said. Even though manufacturing sales rose 2.8% during the fourth quarter, to $592.6 billion, total after-tax profits dropped by 5.3% to $24.4 billion in the fourth quarter compared to the third quarter. Stockholders received an 11% rate of return on equity from October through December, compared to a third-quarter rate of 11.9%.

CH