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Morgan Stanley raises U.S. third-quarter GDP growth view to 2.8 percent
October 2, 2017 / 5:32 PM / in 17 days

Morgan Stanley raises U.S. third-quarter GDP growth view to 2.8 percent

A customer counts his cash at the checkout lane of a Walmart store in the Porter Ranch section of Los Angeles November 26, 2013. REUTERS/Kevork Djansezian/Files

NEW YORK (Reuters) - Morgan Stanley economists said on Monday they increased their growth estimate on U.S. gross domestic product in the third quarter to 2.8 percent from 2.6 percent based on the latest data on construction spending and factory activity.

Earlier Monday, the government said construction spending grew 0.5 percent in August after two months of declines, while the Institute for Supply Management said its index on manufacturing activity unexpectedly rose to its strongest level in more than 13 years in September.

Reporting by Richard Leong; Editing by Chizu Nomiyama

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