Fannie Mae Lowers Several Forecasts

By Jann Swanson

Posted To: MND NewsWire

Fannie Mae is predicting a notable slowdown in the growth of the U.S. economy in the first quarter of 2019. They have downgraded their earlier forecast by 0.1 percent to an annualized rate of 1.7 percent, compared to 2.8 percent in the fourth quarter of 2018. For the full year they are looking for growth of 2.2 percent, down from what is expected to be a final rate of 3.1 percent last year. The first quarter forecast from the company’s economists reflects expectations that consumer spending has slowed as their confidence in future economic conditions has deteriorated. The economists do think that most of the impact of the partial government shutdown will dissipate by the end of the quarter and the government debt ceiling will be raised in a way that doesn’t unduly undermine investor, business…(read more)

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