From Goldman Sachs economist Elad Pashtan
Our final Q3 GDP tracking estimate stands at +2.9% (qoq ar), roughly in line with the consensus of forecasts that were updated after the September trade report. We look for a strong boost from net exports, solid consumer spending, a small contribution from capital expenditures, and another (albeit smaller) drag from inventories.
• At 8:30 AM ET, Gross Domestic Product, 3rd quarter 2016 (Advance estimate). The consensus is that real GDP increased 2.5% annualized in Q3.
• At 10:00 AM, University of Michigan’s Consumer sentiment index (final for October). The consensus is for a reading of 88.5, up from the preliminary reading 87.9.