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Fannie Sees GDP Growth Slowing in 2nd Half

The GSE's chief economist notes that consumer spending, traditionally the largest contributor to economic growth, is "sluggish and is lagging positive consumer sentiment and solid hiring.”

Photo of Doug Duncan Doug Duncan, chief economist with Fannie Mae

WASHINGTON, DC—Notwithstanding a resurgence of growth in the second quarter, the full-year expectation continues to be that the US economy will grow by just 2% in 2017, Fannie Mae said Monday. The GSE’s July 2017 Economic and Housing Outlook points to the likelihood of a slight slowdown in Q3 and Q4.

“While second quarter growth is poised to rebound, we expect growth to moderate through the remainder of 2017,” says Doug Duncan, chief economist with Fannie Mae. “Consumer spending, traditionally the largest contributor to economic growth, is sluggish and is lagging positive consumer sentiment and solid hiring.”

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Paul Bubny

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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