After this report, economists have updated Q3 GDP forecast to 0.7% q/q sa, from 0.4% q/q sa previously. The economy will likely grow 2.3% y/y this year (instead of 2.2%, our previous forecast) as economist still expect a deceleration in Q4. Also, 2016 annual forecast has increased to 2.5% y/y from 2.4% before.
"Even though the domestic drivers of growth remain strong, external headwinds should dominate in the coming months, in our view. September data are pointing to a deceleration in that month, and the external environment might continue to contaminate the economy during Q4", says Barclays.
