Meantime, net exports are poised to add to growth for the first time in two years. The US trade deficit widened to the largest on record in March as imports surged. Since then, the gap has narrowed. Exports likely increased in the second quarter -- after falling the first quarter -- while imports climbed at a slower pace after surging in the prior period, Feroli said.
-With assistance from Chris Middleton.
This article was provided by Bloomberg News.