Reuters (07/25/13) Lucia Mutikani

Core capital goods orders rose 0.7% in June, and overall durable goods orders rose 4.2%, according to the U.S. Department of Commerce. This could indicate that third-quarter activity will increase. However, shipments of core capital goods fell, demonstrating that economic growth in the second quarter has slowed.

Macroeconomic Advisers, a forecasting firm, predicts gross domestic product in the second quarter will grow at an annual rate of 0.5%, revised downwards by two-tenths of a percentage point. Higher taxes and the government sequester injured economic activity during the first half of 2013.