US economy could get boost with sale of iPhone 5

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Updated: 9/11/2012 7:31 am
The economy may get a bit of help from an odd source: the release of the latest iPhone.

Scheduled to be revealed later this week, economists with J.P. Morgan are saying the popular phone could add up to half a percent to the nation's annualized economic growth this fourth quarter. 8 million phones would have to be sold in the last three months of the year to so, but the possibility exists.

The Center for Economic and Policy Research points out that it is unknown whether iPhone sales will affect the sales of other smart phones.
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