JPMorgan: 'iPhone 5 Could Add Between 0.25 to 0.5%-Point to Q4 GDP Growth'

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JP Morgan makes a blockbuster prediction: "We believe the release of iPhone 5 could potentially add between 1/4 to 1/2%-point to fourth quarter annualized GDP growth."

Calculating that each iPhone will add $400 to GDP (after subtracting import costs), the analysts project that iPhone 5 sales could boost Q4 GDP by $3.2 billion, which would raise GDP by 0.33%. Overall GDP is projected to grow by between 1.5% and 2% next quarter.

What's good for Apple is good for the United States.
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Derek Thompson is a senior editor at The Atlantic, where he writes about economics, labor markets, and the entertainment business.

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