JPMorgan cuts growth forecasts ‘perilously close’ to recession
The reduced its estimate for annualized gross domestic product growth to 1% for the second quarter, down from 2.5% previously.
JPMorgan Chase & Co. (JPM) economists cut their U.S. midyear economic growth forecasts after an influx of weaker data this week — most notably a slowdown in consumer spending.
The Wall Street bank reduced its estimate for annualized gross domestic product growth to 1% for the second quarter
Learn more about reprints and licensing for this article.
