US gross domestic product (GDP) will likely grow by 1.5% in Q1 2019 rather than the previously forecast 1.75%, according to a research note by JP Morgan economist Michael Feroli on 21 February. J.P. Morgan on Thursday lowered its tracking estimate on U.S. economic growth in the first quarter as durable goods orders rose less than forecast in December with core capital orders posting a surprise drop. The slowdown is due mainly to lower consumer spending and higher business fixed investment, which are both expected to be revised up from earlier this month.
US gross domestic product (GDP) will likely grow by 1.5% in Q1 2019 rather than the previously forecast 1.75%, according to a research note by JP Morgan economist Michael Feroli on 21 February. The slowdown is due mainly to lower consumer spending and higher business fixed investment, which are both expected to be revised up from earlier this month.