Growth Probably Cooled as Spending Slowed: U.S. Economy Preview

The U.S. economy expanded at a slower pace in the second quarter as consumer spending cooled and the trade deficit swelled, economists project a report this week will show.

Gross domestic product rose at a 2.5 percent annual pace after increasing at a 2.7 percent rate in the first three months of the year, according to the median estimate of 68 economists surveyed by Bloomberg News before a July 30 Commerce Department report. Other data may show gains in business investment are taking up some of the slack, while housing is mired in a slump.