On Q3 GDP from Goldman: “The September new home sales and inventory data were slightly better than our previous assumptions on net, and we boosted our Q3 GDP tracking estimate by one tenth to +2.5% (qoq ar) ahead of tomorrow’s report.”
From BofA: “The trade and inventory data lowered our 3Q GDP tracking estimate from 2.5% q/q saar to 2.0% q/q saar.”
Note: Mortgage rates are from MortgageNewsDaily.com and are for top tier scenarios.
• At 8:30 AM ET, the initial weekly unemployment claims report will be released. The consensus is for an increase to 225 thousand from 214 thousand last week.
• Also, at 8:30 AM, Gross Domestic Product, 3rd quarter 2022 (advance estimate). The consensus is that real GDP increased 2.4% annualized in Q3, up from -0.6% in Q2.
• Also, at 8:30 AM, Durable Goods Orders for September from the Census Bureau. The consensus is for a 0.5% increase in durable goods orders.
• At 11:00 AM: Kansas City Fed Survey of Manufacturing Activity for October.