Report: New iPhone could boost U.S. GDP
By The Week Staff | September 11, 2012
T
he much-anticipated iPhone 5 could be a major boon for the U.S. economy. JPMorgan is predicting Wednesday's release of the new Apple product could significantly boost GDP growth. JPMorgan's Michael Feroli said the launch could add up to 0.5 percent annualized economic growth in the fourth quarter. Apple anticipates that at least 8 million iPhone 5s will be bought over the next three months.
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