FXstreet.com (San Francisco) - The United States' Gross Domestic Product Q3 report is scheduled to be released next Friday October 26 by the US Bureau of Economic Analysis. Market consensus is to see a 1.8% advance in the third quarter but Bank of America expects Just a 1.7% increase.
"After an anemic August, the data have been consistently strong in September," comments the Bank of American analyst team. "In August, half of the top ten indicators were weaker than the beaten-down consensus expectations. By contrast, almost every major indicator has been stronger than consensus in September.
"Some of the surprise is because expectations have been lowered, but the data also have been healthy in absolute terms," the bank points. "With GDP coming out on Friday, we have upped our forecast and now see 1.7% Q3 growth. We also see upside risks to Q4."
"After an anemic August, the data have been consistently strong in September," comments the Bank of American analyst team. "In August, half of the top ten indicators were weaker than the beaten-down consensus expectations. By contrast, almost every major indicator has been stronger than consensus in September.
"Some of the surprise is because expectations have been lowered, but the data also have been healthy in absolute terms," the bank points. "With GDP coming out on Friday, we have upped our forecast and now see 1.7% Q3 growth. We also see upside risks to Q4."
