Less than 1% growth is good enough, says JPMorgan

The bank anticipates “slow but positive” US gross domestic product growth next year at 0.7%. — Bloomberg

NEW YORK: JPMorgan Chase and Co isn’t expecting much in the way of US economic growth next year, but it will likely be enough for US investment-grade spreads – already near four-month tights – to narrow further and for returns to hit a five-year high by the end of 2024.

The bank anticipates “slow but positive” US gross domestic product growth next year at 0.7%, according to a Tuesday report.