Cite stronger durable goods dataBarclays has increased their estimate for 3Q GDP to 2.5% from 2.3% on the back of the surprisingly strong durable goods report.
The 1st cut of the 3Q GDP will be released on Friday and the estimates are for a 2.5% gain vs 3.1% in 2Q. Personal consumption is expected to rise at an annualized pace of 2.1% vs 3.3% last quarter.
The Atlanta Fed GDPNow estimate will be released later today. There last projection came in at 2.7%.