January 24, 2019 / 8:07 PM / 7 months ago

J.P. Morgan pares U.S. first quarter GDP view to 1.75 percent

FILE PHOTO: A J.P. Morgan logo is seen in New York City, U.S., January 10, 2017. REUTERS/Stephanie Keith/File Photo

NEW YORK (Reuters) - J.P. Morgan economists reduced their outlook for U.S. economic growth in the first quarter to 1.75 percent from 2.00 percent as the partial U.S. government shutdown has stretched to a second month for the longest one ever, they said on Thursday.

“That estimate solely accounts for the reduction in government sector output and does not incorporate any potential spillover effects into private economic activity. Fortunately, so far those spillovers look contained,” the banks’ economists wrote in a research note.

Reporting by Richard Leong; Editing by Sandra Maler

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