The median expectation for 3Q.......>

US DATA PREVIEW: The median expectation for 3Q advance GDP sits at +2.7%, with a

wide range from +1.9% to +3.3% due to hurricane uncertainty. The chain price

index is expected to post +1.8%, with a narrower range of +1.5% to +2.0%. In

recent history, 3Q adv estimates have come in right at or below the report,

suggesting analysts could be surprised once again with a higher than expected

reading for GDP. However, even if GDP comes in at the softer +2.7% forecast,

this would still be the best two consecutive quarters for GDP growth since the

first half of 2015, with 2Q at +3.1%. Gains are expected to come from inventory

build up, business investment, and trade, while analysts predict a drag from

residential investment. Analysts are divided on whether consumer and government

spending will support or limit GDP growth. See MNI main wire for the full

preview.