Here comes GDP ...
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REUTERS/Mike Blake
A crane flies an American flag over a construction site in downtown Los Angeles, California October 29, 2014.
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Economists forecast that the data would be revised downward a blip, showing that the US economy grew at an annualized rate of 1.1%, down from the 1.2% print earlier reported, according to Bloomberg.
Personal consumption is expected to be unchanged at 4.2%, and core personal consumption expenditures, a measure of inflation, at 1.7%.
The preliminary release of Q2 GDP showed that the economy was bogged down by weak business spending. A drop in company inventories erased 1.2 percentage points from the headline GDP print.
Consumers played their part, however, amid a healthy labor market.
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