In the US, durable goods orders are due for release and consensus is for an increase of0.5% m/m in September. It should be noted that there was a sharp decline of 18.4%m/m in orders in August but it followed an even bigger increase of 22.5% m/m in Julydue to huge Boeing orders. Core durable goods shipments (excl. defence and airplaneorders), which is a good proxy for equipment investment, increased in both July andAugust and are also expected to increase in September. Note that we expect a slightdecline in GDP growth in Q3 to 3.0% y/y after a really strong rate of 4.6% y/y in Q2.
US consumer confidence is also released and we expect an increase to 87.0 in Octoberafter it declined to 86.0 in September. The decline in September followed a period ofincreases and the trend is still up, although there was a clear setback in September.
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