A statement on Wednesday is anticipated to showcase the US economy scarcely develop from April through June. Yet economists are expressing aspiration that the weak second quarter is a temporary stillness that gives way to stronger growth in the second half of the year. Tax expanded at the same time steep government spending cuts probably did their worst damage to the economy in the second quarter. During their impact fades out solid job gains, more business spending and a steady recovery in housing should help progress growth. Furthermore, according to a survey by FactSet Economists forecast that growth decreased it's pace in the April-June quarter to a seasonally adjusted annual rate of just 1 per cent. That's below the slow pace of 1.8 per cent in the January-March quarter.

The Commerce Department will release the first approximate judgement of gross domestic product, or GDP, for the second quarter at 8.30 am local time (8.30pm on Wednesday, Singapore time). GDP is the broadest measure of the output of goods and services that includes everything from manicures to industrial machinery.

(AW:Samrat Biswas)