The economy simulates a ‘sickly tortoise,’ will ‘rev up’ in H1 2026 – JPM’s David Kelly
JPMorgan's David Kelly described the U.S. economy as a 'sickly tortoise' with slowing growth and significant labor market weakness. Despite a higher-than-expected nonfarm payroll increase in November, the unemployment rate rose to 4.6%. Kelly predicts uneven growth in 2026, with a temporary boost in H1 from increased tax refunds, followed by a slowdown. He forecasts GDP growth of 3% in H1 and 1% in H2, constrained by limited labor supply and weak investment in sectors like heavy truck sales, construction, and energy.
businessinsider·
