Barclays economist Michael Gapen....>

US DATA PREVIEW: Barclays economist Michael Gapen said Barclays is raising "Q3

US GDP forecast to 2.5% on a faster return to normal." He added "we had

previously reduced our Q3 GP forecast (and raised our Q4 GDP forecast) on

account of our expectation that the three large storms that made landfall in

August and September would slow economic activity. Our assumption was that

activity would be subdued in both August and September and subsequently return

to normal in early Q4. On net, we expected growth in the second half of the year

to be largely unchanged, with any weakness in Q3 data made up in Q4."

-He said "in the event, data for most indictors have rebounded strongly in

September, suggesting a faster return to normal activity levels than we

anticipated, and our Q3 GDP tracking estimate has been running modestly ahead of

our official forecast for some time. As a result, ahead of next week's advance

estimate of Q3 GDP, we reconcile the difference between our GDP tracker and the

official forecast by revising higher our estimate for Q3 growth to 2.5% q/q

saar, from 1.5% previously. This returns our forecast to where it stood entering

the quarter."