Is the economy set for a rebound?

The economy has been in the doldrums since late last year, but a report this week should show growth accelerated in the third quarter, setting up a better outlook for the second half of 2016.

Don’t look for a rebound in business investment. Companies are still cautious because of the oil sector slump, a weak global economy and uncertainty tied to the presidential election. And housing construction is expected to be a drag on growth for the second straight quarter, RBC Capital Markets wrote in research note.

But consumer spending has kept the economy afloat and RBC says it likely drove growth in the July-September period. Americans are benefiting from steady job growth and low gas prices.

Meanwhile, trade turned into a mild positive for growth in the second quarter and that shift likely has picked up steam, economists say. The dollar weakened and then stabilized this year, partly reversing the effects of a strong greenback that has made U.S. exports more expensive and imports cheaper for Americans.

A wildcard is business stockpiling, which has subtracted from growth for five quarters as firms saw little need to build inventories with sales increasing modestly. Nomura economist Lewis Alexander believes that strategy persisted in the third quarter. But RBC expects a rebound.

All told, economists expect the Commerce Department to announce Friday the economy grew 2.5% at an annual rate last quarter, up from about 1% average growth the previous nine months.