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Wednesday, October 29, 2014

Thursday: Q3 GDP, Unemployment Claims

by Calculated Risk on 10/29/2014 08:34:00 PM

From the Atlanta Fed GDPNow:

The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2014 was 2.7 percent on October 28
From Chico Harlan at the WaPo: Tomorrow’s GDP numbers will give a better read on the U.S. economy
Many economists now say that the first quarter slide stemmed from a horrid East Coast winter that kept consumers indoors. They say that the second quarter was buoyed by a bounce-back effect, a release of all that pent-up demand for cars and homes. But this quarter? We’ll probably get something in between, confirmation of a recovery that’s yielding more jobs but little wage growth.

According to economists surveyed by Bloomberg, the GDP probably rose around 3 percent in the latest quarter. ... Three percent growth is hardly dazzling, but the number shines relative to other advanced economies.
And from Nick Timiraos at the WSJ: 5 Things To Watch in Thursday’s U.S. GDP Report

• At 8:30 AM ET, Gross Domestic Product, 3rd quarter 2014 (advance estimate). The consensus is that real GDP increased 2.8% annualized in Q3.

• At 8:30 AM, the initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 280 thousand from 283 thousand.