NEW YORK ( TheStreet) -- According to data compiled by Bloomberg, companies on the S&P 500 Index are likely to report revenue increases of 10% in 2011, doubling from 5.2% in 2010, boosted by a recovery in personal income and spending. Additionally, capital spending by these companies is seen expanding 21% in 2011. These revenue gains may further push the Index's profits to $99.08 per share, growing 17% from 2010.Meanwhile, in a separate development, industry estimates predict a marginal acceleration in growth during the second half of 2011, with opportunities in the technology, industrials, and healthcare sectors. Barry Knapp, head of U.S. equity strategy at Barclays Capital, said that the nonfinancial corporate sector is witnessing robust recovery in profit and relative valuations are attractive.
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