U.S. services data suggests downward revision to fourth-quarter GDP [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
U.S. services data suggests downward revision to fourth-quarter GDP WASHINGTON (Reuters) - U.S. economic growth for the fourth quarter is likely to be revised lower after data on Thursday showed less consumer spending on services and business investment in intellectual property products than previously estimated. The findings of the Commerce Department’s quarterly services survey, or QSS, follow recent data showing a bigger trade deficit in December and weaker construction outlays than had been assumed in the government’s initial fourth-quarter GDP report published last month. December retail sales were also softer than previously reported. Before the QSS data, economists had expected that GDP growth for the October-December quarter would be cut to between a 2.0 percent and 2.3 percent annualized rate from the 2.6 percent pace reported last month. Based on the QSS data, economists at JPMorgan estimated that fourth-quarter GDP could be cut to a 1.8 percent rate when the government publ
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- 4/17/24 - Form 424B2
- 4/17/24 - Form 424B2
- 4/17/24 - Form 424B2
- JPM's page on the SEC website