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The prediction of a financial firm about the US recession changes!
The top economist at JPMorgan said that the country's economy is growing at a good rate.
Many people worry that the United States will go into a slump. As a result, many big companies are letting people go to make their staffs stronger. In the middle of this, the American global financial services company JPMorgan Chase & Co. had some good news about the US slump.
JPMorgan changed its prediction about the U.S. economy and said that it does not think the country will go into a recession this year. In its report, the company raised its estimate for economic growth. People said it was because the country moves at a good pace.
The top economist at JPMorgan said that the country's economy is growing at a good rate. The expert said that compared to what was said before, Q3 is a very good time for America. Experts had said before that the growth would only be 0.5%.
The experts now say that the real yearly GDP growth in Qs is 2.5m percent, which is good news. The experts disagreed with the growth in the country's economy because of the growth in the quarter.
Given this increase, J.P. Morgan's Michael Feroli said, "We doubt the economy will quickly lose enough momentum to slip into a mild contraction as soon as next quarter, as we had previously predicted."
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