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Expectations for Economy, Housing Subdued in 2nd Half
Monday, August 24, 2015
Mae's economic team said on Monday that the economic outlook for the second
half of 2015 is less upbeat than anticipated.
Second quarter economic growth came in lower than expected and a
build-up in business inventories suggest that Fannie Mae's forecast for the
third quarter was also too optimistic.
Even though Q1 growth was improved by later revisions, the full-year
2015 growth outlook remains at 2.1 percent.
Driving that growth will be consumer spending, housing and government
dollar will continue to weigh on manufacturing and trade and new declines in
crude oil prices will create a headwind for the oil and gas sector. Interest rate volatility will probably pick
up as the September Fed Open Market Committee (FOMC) meeting approaches and
international uncertainties, although they have lessened, remain downside
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