Daily Archives: Oct 27, 2020 at 07:26 am EDT

Strong Rebound Expected For This Week’s US Q3 GDP Report

The US Bureau of Economic Analysis is on track to report that the economy posted a strong rebound in the third quarter in Thursday’s initial GDP estimate (Oct. 29). Most economists and nowcasting models are estimating a dramatic, perhaps record-setting increase in gross domestic product (GDP). There’s still uncertainty about Q4’s outlook, but confidence is high that this week’s GDP data will confirm that the economy mounted a dramatic rebound after Q2’s record loss.

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Macro Briefing: 27 Oct 2020

Senate confirms Amy Coney Barrett to Supreme Court: CNBC
Supreme Court: Wisconsin mail-in ballots valid only if received by Nov 3: CNN
Russian air strikes in Syria kill 50-plus Turkish-backed fighters: BBC
China’s Ant Group expected to raise $34 billion in record IPO: WSJ
Pandemic moves Eurozone banks to tighten access to credit: Reuters
US new home sales slipped in Sep but remain strong: MW
Dallas Fed Mfg Index: Manufacturing Expands for fifth month in Oct: DF
Chicago Fed Nat’l Activity Index: US growth continued to slow in Sep: AP