JPMorgan Chase & Co. said today it expected U.S. Gross Domestic Product (GDP) to rise by 3 percent in the final three months of the year compared to an earlier prediction of 2.5 percent. Other firms suggested the rate of growth could be even higher such as State Street Global Markets which expects growth for the quarter to reach 3.3 percent.
The reason given for the more positive outlook is that consumers have maintained spending levels. This has allowed companies to add to their inventories on extended demand.
Source: Bloomberg
