[1/2]People line up outside a newly reopened career center for in-person appointments in Louisville, U.S., April 15, 2021. REUTERS/Amira Karaoud/File Photo
- Second-quarter GDP forecast increasing at a 1.8% rate
- Moderate consumer spending seen after first-quarter surge
- Business investment likely picked up on equipment rebound
- Weekly jobless claims expected to rise to 235,000
WASHINGTON, July 27 (Reuters) – The U.S. economy likely maintained a moderate pace of growth in the second quarter as labor market resilience underpinned consumer spending, while businesses boosted investment in equipment and built more factories, potentially keeping a much-feared recession at bay.
The Commerce Department’s snapshot of second-quarter gross domestic product on Thursday is also expected to show the housing market slump nearing an end. Outside the housing market and manufacturing, the economy has largely weathered the 525 basis points in interest rate…
