ICYMI – Goldman Sachs raised their Q3 US GDP estimate to 2.7% (q/q annualized), from 2.5%

CNBC had the snippet on Friday on Goldman Sachs ramping up their estimate for US economic growth this quarter. The investment bank boosted its Q3 GDP tracking estimate by 0.2pp to 2.7%, q/q annualized.

GS cited an improved outlook for consumer spending. This followed a jump for incomes and expenditures:

• Personal income +0.3% vs +0.2% expected. Prior month +0.2%
  
• Personal spending +0.5% vs +0.5% expected. Prior month +0.3%