JPMorgan's Michael Feroli slashes his Q3 GDP estimate to 1.5% from 2.5%, looking at early survey...

|By:, SA News Editor

JPMorgan's Michael Feroli slashes his Q3 GDP estimate to 1.5% from 2.5%, looking at early survey measures that suggest activity may have stalled amid the debt ceiling rancor. He sees unemployment remaining at 9% or higher for another year. Yesterday, Feroli cut his 2012 GDP forecast to under 1% net of fiscal adjustments.