Group forecasts GDP up 2.6 percent this year, down from May prediction of 3.2 percent...
"Consumer caution, high unemployment and slow growth in household wealth will slow U.S. economic growth through next year, according to a survey by the National Association of Business Economics.The 46 economists in the association's quarterly survey forecast growth in real GDP of 2.6 percent this year, down from their May prediction of 3.2 percent. The economists predict GDP will accelerate gradually through 2011 but remain "moderate" next year."This summer's slowdown has exposed the economy's sensitivity to wealth losses, the unwinding of debt, and the reductions in economic stimulus," said NABE President-elect Richard Wobbekind, associate dean of the Leeds School of Business at the University of Colorado-Boulder. "Confidence in the expansion's durability is intact, but recent economic weakness has prompted many panelists to scale back expectations for the year ahead."..."
Jacob Gaffney is the Editor-in-Chief of HousingWire and HousingWire.com. He previously covered securitization for Reuters and Source Media in London before returning to the United States in 2009. While in Europe for nearly a decade, he covered bank loans and the high yield market, in addition to commercial paper, student loan, auto and credit card space(s). At HousingWire, he began focusing his journalism on all aspects of the housing and mortgage markets.
The 2018 Rising Stars represent the best young leaders in the mortgage industry. Many of our 46 winners are leading companies as C-level executives, making strategic decisions for their organizations or developing new and inventive ways to get things done. Others are contributing through product development, data management or finding new ways to engage with consumers. Across the board, their efforts and accomplishments are influencing the present and future course of our industry.
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