Forecasters see the US economy continuing to cool in the current quarter before a further slowdown in consumer spending and pullback in business investment cause the economy to shrink in the second half of the year.
Gross domestic product is seen rising an annualized 0.5% in the second quarter, according to the latest Bloomberg monthly survey of 70 economists. While slightly better than the 0.2% rate expected a month ago, reflecting an upward adjustment in household spending to a still-weak 1%, the latest projection is less than half the first-quarter pace.
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