Economic output for the US remains on track to increase at a robust pace in the government’s upcoming third quarter GDP report scheduled for Oct. 30, based on the median nowcast via several sources compiled by CapitalSpectator.com.

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Florida residents fled the Tampa Bay region ahead of Hurricane Milton, which is expected to make landfall tonight. The storm “poses a major threat to life and property as it hammers the state with destructive storm surge, devastating wind damage, potentially catastrophic flooding rainfall and several tornadoes,” the Weather Channel warns. Expected damages are projected to reach $175 billion, according to leading Wall Street analysts.
US trade deficit narrowed to smallest gap in five month in August. Exports increased 2%, the most since February, while imports fell 0.9%.

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