Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

JP Morgan slashes forecast for U.S. GDP, sees 14% second-quarter drop

Published 03/18/2020, 03:12 PM
Updated 03/18/2020, 03:16 PM
© Reuters. JP Morgan slashes forecast for U.S. GDP, sees 14% second-quarter drop

SAN FRANCISCO (Reuters) - The U.S. economy could shrink 4% this quarter and 14% next quarter, and for the year is likely to shrink 1.5%, a JP Morgan economist said on Wednesday, in one of the most dire forecasts yet issued for the potential hit from the coronavirus epidemic.

U.S. chief economist Michael Feroli also forecast unemployment to rise to 6.25% by the middle of the year before easing to about 5.25% by year end as economic growth restarts. The forecast assumes the Fed will continue to find "creative" ways to support the economy and that the Trump administration and Congress deliver fiscal support of $1 trillion.

Latest comments

JP Morgan - 50/50, anytime somebody is right.
Economy will start to change slowly back to normal sometime in August 2020 from my study. Stay Safe!
Now that JPM spells doom - it is tome to go Long
the MAGA economy keeps on giving
Don’t listen to the Economists ... they understand less than you are
Congratulations politicians for annihilating what you were required to support, the society's fabric; congratulations media for your misusing of the word's and information power in throwing nations in turmoil and poverty instead of informing people that this virus would harm only 3% of the worts infected ones.
100%
actually depends a lot about: 1) intensive care units, around 10/15% of those who got the virus needs to have one, otherwise % of death will rise 2) How much elders and how fit the population is, Europe got a lot of Elders, US a lot of obeses. Dont underestimate it.
You don’t seem to understand the gravity of this virus. It is extremely contagious (like the common cold or worse) and 2-3% dead when 70% of the country get it is a ***ton of peopleThere is no more containing the virus now tho, most everyone will get it, now the problem is reducing the speed of transmission, hence the european forced quarantine.It is already too late and is spreading everywhere taking the life of 2% of people, you need to x10 or x20 the numbers of cases you see on TV for the real picture.
when way the last time these high paid analysts get it right? they are here for entertainment purpose only
it's creates a ripple in the wave.
but other countries even worse
DIRE!
It will all be OK... don’t panic
Pay no attention to JPM economist forecasts
1.5% ?? apocalypse! sell all while you can!
Haha :)
The world can only end once, and this isn't it.
The End is near.
Yes for usa, china is worlds number one economy now
China is the worlds number one petri dish but thats about it.
Just a month ago the talking heads were saying buy AAPL at $320
Did you buy?
if u ve already bought i think just relax to 3rd quarter. anyways most of ppl 'd be in similar situation
they do this for the uneducated people, they buy, they crash everything and they win. cheaper prices boom.
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.