Posted To: MND NewsWire
Fannie Mae’s economists have upgraded projections for economic growth in the second quarter to by 0.3 percent to 2.4 percent because of unexpectedly strong consumer spending in May although they have left the forecast for the second half of the year unchanged at 2.0 percent. The full year the company’s Economic and Strategic Research group’s report for July u pgrades its predictions for the full year by 0.1 percent to 1.8 percent but adds that heightened uncertainty and financial volatility associated with Brexit and with the U.S. elections “point to elevated downside risks to our forecast.” Freddie Mac’s economic forecast for the month had put a higher premium of the Brexit impact, saying it would shave 10 basis points off the GDP for the remainder of 2016 and all of 2017 leading to final…(read more )