The U.S. economy expanded very modestly in the second quarter, economists estimate, as the housing market sagged under higher mortgage rates, consumers coped with soaring inflation and businesses held back on replenishing bloated inventories.
Economists surveyed by The Wall Street Journal estimated the Commerce Department will report Thursday that gross domestic product, the broadest measure of goods and services produced across the nation, rose at a 0.3% annual rate in the April-through-June period.