How iPhone 5 Sales Could Prop Up the Entire U.S. Economy

JPMorgan expects pop from new Apple product
Photograph by SeongJoon Cho/Bloomberg

We know the release of the iPhone 5 is a big deal, but this big? Economist Michael Feroli of JPMorgan Chase estimated Monday that sales of the new phone, expected to start later this month, “could potentially add” from one-quarter to one-half of a percentage point to the growth rate of U.S. gross domestic product in the final quarter of the year.

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