US: Q3 growth likely to slow to 1.5% annualised – Deutsche Bank

Sandeep Kanihama FXStreet Contributor

Deutsche Bank analysts point out that the FOMC will get one final important data release prior to the meeting with a first look at US Q3 GDP at 12.30pm GMT.

Key Quotes

“The consensus is for growth to slow to 1.6% annualised while our economists forecast 1.5%. Remember that this compares to 2.0% growth in Q2. Our economists make the point that the Fed’s median 2019 growth estimate in the September Summary of Economic Projections (SEP) increased a tenth to 2.2%, which implied back half growth of roughly 1.9% annualised.”

“The details of the Q3 GDP report may therefore prompt Fed officials to begin marking down their forecasts ahead of the next SEP release at the December meeting. At a minimum, the Q3 output data should serve as a benchmark for gauging the data going into the December meeting.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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