New estimate pegs U.S. fourth-quarter growth at 3%

03/12/2014 | Reuters

The estimate of U.S. fourth-quarter growth, recently adjusted downward to a rate of 2.4%, is likely to be raised to 3.0%, JPMorgan and Macroeconomic Advisers predict on the basis of robust gains in the service sector. "We now believe real consumption increased 3.4%," said JPMorgan economist Daniel Silver.

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