Groundhog Quarter?


Posted To: MND NewsWire

Fannie Mae’s Economic and Strategic Research Team had as a headline for its May forecast, It’s Déjà Vu All Over (and Over) Again. Déjà vu indeed, as for the fourth straight year first quarter economic growth slowed from the preceding quarter . Annualized real gross domestic product (GDP) came in at an anemic 0.7 percent, down from 2.1 percent in the fourth quarter of 2016. Fannie Mae’s economists say that, based on these results, they are keeping their full-year 2017 growth projection at 2.0 percent. This presumes that history will also repeat itself with a rebound of growth in the second quarter, which has happened in the last three years. The Fannie Mae report blames the Q1 slowdown principally on consumer spending, formerly the biggest driver of growth during…(read more)

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