Second-quarter GDP seen rebounding on consumer spending, housing

July 30, 2015 7:04 AM

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Second-quarter GDP seen rebounding on consumer spending, housing

WASHINGTON U.S. economic growth likely accelerated in the second quarter as a pick-up in consumer spending and housing offset the drag from trade and the energy sector, suggesting a steady momentum that could bring the Federal Reserve closer to hiking interest rates this year.

The government is expected to report on Thursday that gross domestic product increased at a 2.6 percent annual rate, according to a Reuters survey of economists.

Also read: U.S. economy creates 178,000 jobs in November; jobless rate drops to 4.6%

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