JP Morgan analysts have announced that the US GDP growth estimates will be revised downwards in the second half of 2022 and 2023.
The US Banking Economic Research Division expects GDP to expand in the second half of 2022, equivalent to + 2.4% compared to + 3% previously expected.
Estimates were cut from + 2.1% to + 1.5% in the first half of 2023 and from + 1.4% to + 1% in the second half of next year.
The note notes that JP Morgan’s practice forecasts a slowdown in the US economy, which means that the recession of growth will gradually increase unemployment in 2023 and translate into a slowdown in wage growth. (Thus reducing inflation).