FNMA 'Fannie Mae' Economic Summary for First Quarter 2010

Once in a while I show my serious Real Estate business side.  The following excerpts and summaries are from a very extensive report put out each quarter by Fannie Mae.  Even though the Fannie Mae brand name was sullied during the economic downturn, they still put out an understandable and comprehensive summary of the United States economy.

US Capitol Building.jpg

The summary is that there will be continued growth for the rest of the year with steady growth in employment, but that the housing industry will stay a little soft due to the fact that the First Time Home Buyer incentive expired as of the end of April.

In other words, consumer spending on goods will continue to ratchet up, which supports jobs and corporate profits, while the spending on homes will continue on to the end of June but not grow much for the rest of the year.  The reason there will continue to be some growth in housing is that although the deadline for the Homebuyer Tax Credit was the end of April, the homes have until the end of June to close.

Here are a few other soundbites:

  • Manufacturing jobs have increased for four months in a row
  • Consumer spending grew in the first quarter at the fastest pace in three years
  • Investment in equipment and software posted a double digit gain during the last two quarters

The following link will allow you to either open or download the full report: 

FNMA_Summary_051710_full[1].pdf

As always, feel free to visit my website by clicking  here.

See you soon!

 

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