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Moderate rebound in U.S. economic growth seen in second quarter as inflation bites

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Reuters

By Lucia Mutikani WASHINGTON (Reuters) – U.S. economic growth likely rebounded moderately in the second quarter as companies boosted exports and maintained a strong pace of spending on equipment, which could assuage financial market fears that the economy was already in recession. The Commerce Department’s advance second-quarter GDP report on Thursday will, however, still show that the economy was losing momentum because of high inflation that has prompted the Federal Reserve to aggressively tighten monetary policy. “The economy is still doing okay,” said Brian Bethune, an economics professor …

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