That squeeze was mostly offset by increased borrowing by the bottom 95%, they find.
Its investment banking revenue rose slightly to $867 million, as double-digit gains in mergers advisory and stock underwriting were mostly offset by a decline in debt underwriting.
The drop largely reflects lower natural gas prices and higher operating costs, which were mostly offset by higher realized crude oil prices.
The company also said it took a 9-cent charge, some of it related to restructuring, that was mostly offset by 6 cents of gains.
The natural disaster cost the company tons of production, although that was mostly offset by a rise in coal prices on fears it would become scarce.
The report showed a 0.4 percent increase in manufacturing production in May that was mostly offset by a 3.3 percent decline in electric utility production.
Earlier I heard from the Green Building Council that the cuts to the Code for Sustainable Homes would be mostly offset by the government's promise to introduce new zero carbon home standards by 2018.
Total revenue remained almost flat year-on-year at £244m thanks to a decline in income in the publishing and conferences divisions being mostly offset by revenue growth in Emap's Middle East operation, data, and events and exhibitions businesses.
The loss of television customers has been mostly offset by increases in residential broadband subscriptions and business services—"our two most promising areas," says Glenn Britt, chief executive of Time Warner Cable, America's second largest cable-television company and internet-service provider.
Similarly, net precipitation (precipitation minus evaporation) induced by quadrupling CO2 could be mostly offset by the reduction of solar insolation, although there was less precipitation in some tropical regions.
The estimated profiles, based on actual experience, are not reported in order to remain consistent with the majority of the literature and also because, when actual experience is used, any improvements in the entry effect are mostly offset by a fall in the assimilation effect.
