US economy appears to have begun Q4 on a positive note - BBH

Research Team at BBH, suggests that the US economy appears to have begun Q4 on a positive note, but the NY Fed GDPtracker warns of another quarter of sub-2% growth.

Key Quotes

“Yesterday's flash Markit manufacturing PMI rose to its highest level in a year.  The October Empire State manufacturing survey did disappoint, but the Philadelphia survey was better than expected. 

Today, the Richmond Fed reports alongside the S&P CoreLogic (formerly CaseShiller) and the Conference Board's measure of consumer confidence.  The September reading was at new highs since the crisis, and a small pullback would not be surprising.  Lastly, Atlanta Fed's Lockhart appears to be the last Fed speaker ahead of the blackout around next week's FOMC meeting.”