US DATA: PREVIEW OF THE WEEK: (3 of 3) The first estimate of third
quarter GDP is due on Friday. While there was some inventory building
during the quarter, and net exports were lower, this number is likely to
look much like the second quarter with sluggish housing and cautious
consumer spending. The Employment Cost Index for the third quarter is
also due on Friday, and will probably show only modest growth in wages
and salaries, and some increases in benefits.