Consumers seen powering U.S. economic growth in second quarter

The U.S. economy likely regained speed in the second quarter as robust consumer spending offset a sharp moderation in inventory investment and weak exports, pointing to underlying growth momentum that could be maintained for the rest of the year. "The economy clearly bounced back in the second quarter because consumers put the economy on their backs. The Commerce Department will publish its advance second-quarter GDP growth estimate on Friday at 08:30 a.m. (1230 GMT).