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The final GDP report before the Presidential election comes out today at 8:30 AM ET.Because of the timing, the report will take on a fair amount of political significance.
Nomura’s Ellen Zentner has a short and sweet preview of it here:
GDP, Q3 advance: Stronger consumer spending (which includes the effects of the iPhone 5 release), higher inventory levels, and a quicker pace of home building will contribute most to GDP growth in Q3. Along with consensus, we estimate an annualized increase in real GDP of 1.8% in Q3 compared with 1.3% in Q2. We expect the effects of the slowdown in global growth to be visible through weaker net trade and a small decline in investment in equipment and software.