2013 Economic Growth to Strengthen

2013 Economic Growth to Strengthen

Consumer confidence and strong job reports in February suggests that consumers and businesses have put aside their worries about monetary strain ahead of the looming confiscation deadline, according to Fannie Mae's Economic and Strategic & Research Group.  Although income and consumer spending took a hit at the start of the year and may slow again due primarily to tax increases, overall economic growth is expected to pick up in the second half of the year, coming in at 2.1 percent in 2013.

Home sales showed a mixed performance in early 2013, but the market is now continuing an upward trend.  Home prices have increased considerably and are expected to continue increasing, only to help improve the household net worth and provide support to consumers during fiscal tightening.

For more information, visit www.fanniemae.com.

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Phone: 615-582-0909
Dated: April 2nd 2013
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