U.S. housing, trade data boost third quarter GDP growth prospects

Other reports on Wednesday suggested a stronger pickup in economic growth in the third quarter than is currently anticipated. The goods trade deficit narrowed sharply, while both wholesale and retail inventories increased in September. "A lot of the pieces of the puzzle have come back together in a positive direction, with a pickup in the export of goods to the rest of the world and new home sales," said Chris Rupkey, chief economist at MUFG Union Bank in New York.