Posted To: MND NewsWire

In its first economic forecast of 2020, Fannie Mae’s Economic and Strategic Research (ESR) Group is doubling down on its late 2019 predictions. The economists say that ” onstruction is poised to become a significant contributor to overall economic growth again,” and sets the year’s theme as “A Resilient Economy Overcomes Risks to Drive Housing.” For the economy as a whole, the ESR says it expects its earlier forecast that fixed business investment would turn positive at the end of last year to finally come about in the current quarter. It also ups its previous 2.3 percent growth in 2019 real gross domestic product (GDP) to 2.4 percent. Its full year 2020 forecast is unchanged at 2.1 percent although stronger growth is now expected at the start of the year. Since the December report three additional…(read more)

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Source: Mortgage News Daily