US: GDP likely to print at 3.7% - TDS

Analysts at TD Securities are looking for the US GDP to print at 3.7% (market: 3.3%) on strength in consumer spending and a large boost from inventories.

Key Quotes

“Business investment and net exports should prove more downbeat while core PCE should print at 1.6% y/y, consistent with 2.0% y/y in September.”

“The final release of University of Michigan Sentiment for October will be published shortly afterwards, although the market consensus does not expect any change from the preliminary 99.0.”