Copyright Reuters 2016

(Copyright Reuters 2016)

Barclays raises U.S. fourth-quarter GDP view to 2.7 percent after retail sales

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Barclays economists on Tuesday upgraded their forecast for U.S. gross domestic product in the fourth quarter to 2.7 percent annualized rate from 2.5 percent following a larger-than-expected 0.8 percent rise in retail sales in October. [nLNNFMEC7W] [nLLAFMECAB]

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"Retail sales were significantly stronger than expected in October, and the previous month���s data were revised higher, suggesting solid momentum in consumer spending into Q4," the Barclays economists wrote in a research note.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)