GOLDMAN LOWERS Q3 GDP FORECAST TO 1.6% Goldman Sachs cut its Q3 GDP tracking estimate by 0.1 percentage point to +1.6% (q/q annualized). Q2 nonfarm productivity rose to +3.3%, while unit labor costs fell to +1.0%. Wage growth stood at +3.9% annualized. Private sector employment increased by 54k in August, slightly below expectations, and the trade deficit widened due to higher gold and China imports. Domestic final sales remain steady at +0.7%, and initial jobless claims rose modestly, mostly in Connecticut and Tennessee.(*Walter Bloomberg)