Fannie: Housing To Help Drive GDP in 2020

Fannie Mae on Wednesday upped its GDP forecasts for the fourth quarter of 2019 and full-year 2020 based on strength in labor markets and consumer spending, both of which are expected to lead to further improvement in business fixed investment.

The Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group also said housing-related elements of the ESR Group’s forecast also strengthened considerably, including expected increases in residential fixed investment driven by a significant uptick in the ESR Group’s forecast for new single-family housing starts and sales.