J.P. Morgan Trims U.S. Growth Estimate: Reports

(RTTNews) - The U.S. economy is set to grow at a weaker than expected pace in coming quarters, reports said citing a research note from J.P. Morgan on Friday.

The third quarter growth is likely to be moderately softer than the previous estimate, the bank said. The projection for the fourth quarter growth was downgraded notably to 1 percent from 2.5 percent. For the first quarter of 2012, growth is seen at 0.5 percent instead of 1.5 percent.

The risks of a recession are clearly elevated, J.P. Morgan economists said.

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