Barclays economists Blerina US........>

US DATA REACT: Barclays economists Blerina US Uruci and Pooja Sriram said US Q3

GDP "tracking falls to 2.0% q/q saar from 2.8% as industrial production and

retail sales data suggest Harvey impact was already felt in August Industrial

production, and retail sales were weaker than expected in August."

- They add the Federal Reserve "warned that industrial output was already

distorted by the negative impact of Hurricane Harvey in the August report by

-0.75pp. The BLS, on the other hand, was more cautious about providing

estimates. It said that its surveys were not designed to isolate the impact of

the hurricane, but that it has received "indications from the companies that the

hurricane had both positive and negative effects on their sales data while

others indicated they were not impacted at all." 

- "The BLS also reported that collection of data within the hurricane-affected

areas lagged the collection results of recent months, suggesting downside

revisions could be possible once more survey results come in for the affected

areas," they said.