iPhone 5 could boost economy

SOUTH HADLEY, Mass. (WWLP) - After months of anticipation and speculation, the iPhone 5 was unveiled on Wednesday.

The new phone is thinner and lighter than the iPhone 4S and it also has a taller screen. Apple claims it's the most powerful and advanced smartphone ever created.

The sale of the newest phones could also give a little boost the economy.

The Chief US economist at JPMorgan Chase estimated the release could add 1/4 to 1/2 a percentage point to the growth rate of America's GDP next quarter which is a boost for local businesses.

Brian Jarry, COO of Family Wireless said, “Whenever a new model comes out, people are excited to get the new features, the new functions, maybe a new high resolution camera, faster internet connection, so the new models definitely do drive business and they drive consumers in, they're interested in getting the newest technology.”

In the U-S, pre-orders will start September 14th, which is this Friday. The phone will hit store shelves the following week on September 21st.