Predicted Impact of iPhone 5 on Economy


Aug 2, 2012
Chief U.S. economist Michael Feroli apparently believes that the new iPhone isn’t just your average gadget. Far from that, he feels that the new iconic handset coming out of Cupertino will exercise a great power over the tech markets worldwide. He stated that the iPhone 5 is expected to cause economic growth in the last quarter of the year by between a quarter and half per cent.

“Calculated using the so-called retail control method, sales of iPhone 5 could boost annualized GDP growth by $3.2 billion, or $12.8 billion at an annual rate. That 0.33 percentage-point boost, he added, “would limit the downside risk to our Q4 GDP growth protection, which remains 2.0 percent.

Nevertheless Feroli warned that his predictions shouldn’t be taken as fact and be “treated skeptically.” The iPhone 5 will be launched tomorrow during a special event held in San Francisco so the real numbers will become available soon enough.

Any thoughts?