Quotes from Scotiabank:- Tuesday's US data releases will garner most of the week's attention, and the general tone should be constructive. – Q3 GDP is expected to be revised higher from 3.9% to 4.4% growth. In fact, most of the estimates submitted in the Bloomberg consensus have gone north of 4% and that would be the second straight 4-handled print after the Q2 rise of 4.6%. – Durable goods orders probably climbed sharply in Nov given a big jump in aircraft orders. Core capital goods orders excluding aircraft and defence – a better proxy for capital spending in GDP – could well get a lift following two months of declines. Total consumer spending is expected to post the third fastest monthly growth so far this year given we already know that narrower retail sales beat expectations in a solid start to holiday shopping. Finally, new home sales are expected to be flat at the upper end of the range of figures since mid-2008.
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