By Jann Swanson | Mortgage News Daily
Fannie Mae’s economic team said on Monday that the economic outlook for the second half of 2015 is less upbeat than anticipated. Second quarter economic growth came in lower than expected and a build-up in business inventories suggest that Fannie Mae’s forecast for the third quarter was also too optimistic. Even though Q1 growth was improved by later revisions, the full-year 2015 growth outlook remains at 2.1 percent. Driving that growth will be consumer spending, housing and government spending.