U.S. growth seen cooling into 2026; Q3 GDP 3.3% as Europe expected to outperform

On Monday, Invesco's Ben Gutteridge said the U.S. economy is losing momentum heading into 2026. The Commerce Department's Q3 GDP estimate of 3.3%, after 3.8% in Q2, was lifted by pre‑September 30 EV purchases, while the CBO projects a 1.0–2.0 percentage‑point Q4 hit and $7–14 billion in permanent losses. Invesco expects European equities to lead as ECB cuts are anticipated early next year and valuations remain lower.