Weakened exports and temporary inventory gluts are projected to have taken a sharp bite out of U.S. economic growth in the third quarter.
Amid a slew of economic data scheduled for release this week, the first reading of third-quarter gross domestic product (or GDP) due out Thursday will be one of the most closely-watched as the self-described "data dependent" Federal Reserve mulls the timing of the first interest rate hike in nearly a decade.
Forecasters are predicting the report will provide an already-reluctant Fed with another reason to delay liftoff at least until December.
“The economy stumbled in the third quarter as both payroll employment and GDP growth slowed,” said economists at IHS Global Insight. Read more
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