Economy is poised for a pick-up in the second quarter of 2014
www.Wienerlucena.com
After stalling out in the first quarter of the year, recent indicators suggest the economy is poised for a pick-up in growth in the second quarter of 2014, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group. March data revealed positive consumer spending in both goods and services, helping set up a trajectory for more solid spending growth in the current quarter. April auto sales marked the second consecutive month of at least 16 million annualized units – the first time since 2007. The outlook for business capital spending also has improved, with core capital goods orders jumping 3.5 percent in March to the highest nominal reading on record. Additionally, the upbeat April jobs report showed a pickup in hiring at the fastest pace in more than two years, further signaling that the economy is gathering speed.
Is it good for housing?
www.Wienerlucena.com
After stalling out in the first quarter of the year, recent indicators suggest the economy is poised for a pick-up in growth in the second quarter of 2014, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group. March data revealed positive consumer spending in both goods and services, helping set up a trajectory for more solid spending growth in the current quarter. April auto sales marked the second consecutive month of at least 16 million annualized units – the first time since 2007. The outlook for business capital spending also has improved, with core capital goods orders jumping 3.5 percent in March to the highest nominal reading on record. Additionally, the upbeat April jobs report showed a pickup in hiring at the fastest pace in more than two years, further signaling that the economy is gathering speed.
Is it good for housing?
"The housing picture remains more worrisome, with existing home sales, new home sales, housing starts, and multifamily housing all experiencing year-over-year declines despite improving consumer attitudes," said Duncan. "However, we anticipate a modest uptick in housing activity as the spring and summer selling and building seasons get under way. We believe this year will likely be a bump in the long-term road back toward normal levels, which we continue to expect sometime in late 2016."
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