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

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]

"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)