US: Subdued GDP growth in Q4? – Danske Bank

Danske Bank analysts note that the US Markit PMI manufacturing rose slightly to 51.5 in October from 51.1 the month before, while the service part was more or less unchanged.

Key Quotes

“The employment index dropped further and now signals job growth of just 50,000 next week. Overall the PMI points to relatively subdued GDP growth in early Q4 and supports our call that the Fed will cut rates at its weekend next week.”