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JP Morgan revise their Q3 US real GDP forecast to 3.5% (from 2.5%)

JP Morgan have lifted their economic growth projection based on a 'strong start for consumer'. Citing (in summary):The main details of the July personal income and spending report came out pretty close to our expectations. Real consumption jumped 0.6% in July, nominal income rose 0.2%, and the headline PCE price index rose 0.2% (3.3% oya) while the core PCE price index increased 0.2% (4.2%oya). While there weren't big surprises in today's report, we are now revising our 3Q real GDP growth foreca... Read More

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Posted: Aug 31 2023, 22:58

Author Name: forexlive

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