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iPhone 5 Sales Could Offer Big Boost to GDP

Published on September 10, 2012
by Sudeep Reddy

The iPhone 5, which Apple Inc. plans to release this week, could get credit for something Congress, the White House and Federal Reserve have struggled to do: Boost the U.S. economy in a measurable way.

Sales of the new iPhone could add between a quarter and half a percentage point to annualized economic growth in the fourth quarter, J.P. Morgan chief U.S. economist Michael Feroli estimates. That could help to cushion the U.S. economy from other risks in the final months of the year.

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