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J.P. Morgan reduces U.S. first-quarter GDP growth view to 0.3 percent
April 27, 2017 / 2:09 PM / 7 months ago

J.P. Morgan reduces U.S. first-quarter GDP growth view to 0.3 percent

NEW YORK (Reuters) - J.P. Morgan on Thursday pared its estimate on U.S. economic growth to a 0.3 percent annualized rate in the first quarter from a 0.4 percent pace following weaker-than-expected data on durable goods orders and advance data on the goods trade balance in March.

The bank’s economists said in a research note they left their outlook on the U.S. gross domestic product in the second quarter at 3.0 percent.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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