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J.P. Morgan upgrades U.S. second-quarter GDP view to 2.6 percent

Reuters  |  NEW YORK 

NEW YORK (Reuters) - J.P. Morgan on Wednesday raised its estimate on U.S. economic growth in the second quarter to 2.6 percent from 2.4 percent as domestic wholesale inventories grew 0.7 percent in June, its fastest clip in six months.On July 28, the Commerce Department said its first reading on the gross domestic product in the second quarter was a 2.6 percent increase, matching the median forecast among economists polled by Reuters. (Reporting by Richard Leong; Editing by Chizu Nomiyama)(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, August 09 2017. 20:38 IST