Thursday July 2, 05:15 PM
STOCKS NEWS US-JPMorgan sees industrial intensive recovery
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1141 ET 02July2009-JPMorgan sees industrial intensive recovery
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JPMorgan on Thursday forecast a 'resource/industrial-intensive' recovery,
that would be 'less fueled by credit expansion for households (a la 2002) and
where emerging markets play a larger role in driving this (now 115 percent of
US GDP).'
The firm wrote that its economists 'expect the global economic recovery to
'take off with a bang,' with global industry retracing 1/3 of its recession
losses by year-end and leading to 8 percent annualized growth in industrial
production.'
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