J.P. Morgan out with new GDP estimates. (Kids, cover your eyes.)
Q1: -4%
Q2: -14%
Q3: +8%
Q4: +4%
Full year: -1.5% overall.
Unemployment rate goes to 6.25% midyear, 5.25% in Dec.
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Only a 6.5% unemployment rate? Did they just shake a magic 8 ball for these numbers?