eFXdata reports that analysts at CIBC Research offer their view on today's U.S. Q3 GDP print.
"The US economy lost momentum in Q3 as supply chain issues weighed on activity. The 2.0% annualized pace of growth was below the consensus expectation for a 2.6% pace and included a drop in goods spending, mainly reflecting lower auto purchases due to supply bottlenecks, which partly offset growth in services spending, which decelerated as the Delta variant spread."
"Growth in Q4 is set to accelerate as Hurricane Ida impacts reverse, while the deceleration in Covid cases could support activity in service sectors, although supply chain bottlenecks remain a downside risk."