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iPhone 5 could raise US GDP by 0.5%
- Middle East: Wednesday, September 12 - 2012 at 15:51
JP Morgan has said the next generation iPhone 5, which Apple Inc. plans to release this week, would not only boost the tech giant's bottom line, but could give a significant boost to the overall US economy, Reuters has reported. Sales of the new iPhone could add between a quarter and a half percentage point to fourth quarter annualised growth in the US, JP Morgan's chief economist, Michael Feroli in a note to clients. "Calculated using the so-called retail control method, sales of iPhone 5 could boost annualised GDP growth by $3.2bn, or $12.8bn at an annual rate," Feroli wrote.
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