Economy

Third-quarter GDP is expected to be a tepid 1.6%

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An oil well owned and operated by Apache Corp. in the Permian Basin of Garden City, Texas.

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Third-quarter growth is expected to come in at a weakish 1.6%, with the biggest hits to come from slowing business investment.

The first reading on real GDP for the third quarter is expected at 8:30 a.m. ET Wednesday morning, and it follows a growth pace of 2% in the second quarter. There is also ADP’s private sector payroll report at 8:15 a.m. and that is expected to show job growth of just 100,000, according to Dow Jones.

“I think people are going to hold their reaction to those numbers a little bit in advance as they wait to see what the Fed is going to do,” said Robert…



Source cnbc.com

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