Gross domestic product rebounded in the spring after contracting at the start of the year, but consumer spending remained weak.

Gross domestic product rebounded in the spring after contracting at the start of the year, but consumer spending remained weak.

Gross domestic product was expected to grow at a 2.3% annualized pace in the second quarter, according to the consensus estimate.

Consumer spending ticked up slightly after a near halt, but private sector investments plunged in the second quarter.