Replies to post #307988 on Fannie Mae-No Politics (FNMA)

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July 23, 2015 Federal National Mortgage

Economy Building Momentum into Second Half of the Year
Katie Penote
202-752-2261


WASHINGTON, DC – Incoming data suggest that domestic economic activity was stronger than expected in the second quarter, paving the way for accelerated growth in the second half of the year, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research (ESR) Group. Bolstered by improved consumer spending and residential and nonresidential investment, and coupled with a waning drag from net exports, economic growth is expected to have picked up to 2.8 percent annualized in the second quarter—0.4 percentage points stronger than in the June forecast. Although volatile economic conditions abroad pose potential headwinds to 2015 growth expectations, the ESR Group has adjusted its full-year 2015 economic growth projection to 2.1 percent, up from 1.9 percent in the prior forecast.