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World's biggest economy dangerously close to recession - analysts
1 month ago | By RT
JPMorgan Chase slashes its growth forecast for the US as consumers curb their spending
JPMorgan Chase has revised its midyear US growth outlook, sharply lowering expectations for second-quarter annualized real GDP growth to 1% from 2.5%, Bloomberg reported on Friday.
The largest US bank also cut its projection for the third quarter to 1% from 2%. However, growth is expected to tick up to 1.5% in the final three months of the year, boosted by robust car production and lower inflation, JPMorgan analysts said.
The downgrade comes amid a tightening of monetary policy, as the US Federal Reserve...
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