Tag Archives: GDP

Commercial real estate (CRE) patterns are expected to continue on a steady but modest growth path, the National Association of Realtors (NAR) predicted Friday in its quarterly CRE forecast. "Jobs are the key driver for commercial real estate, and the accumulation of 7 million net new jobs from the row point a few years ago is steadily showing up as demand for leasing and purchases of properties," said NAR chief economist Lawrence Yun. However, Yun said, "the difficulty of accessing loans remains a hindrance to a faster recovery."

With the federal government shutdown and debt ceiling negotiations still fresh in the nation's collective mind, Fannie Mae expects "continued market volatility" heading into the start of 2014.

The nation's economy performed well above expectations in the third quarter, according to an advance GDP estimate released Thursday by the Bureau of Economic Analysis (BEA). BEA's report shows third-quarter growth rose to an annual rate of 2.8 percent, beating the second quarter's 2.5 percent. The median forecast among economists surveyed by Bloomberg called for 2.0 percent growth. Real residential fixed investment, a measure of housing's contribution to the economy, increased 14.6 percent.

Next year's mortgage numbers are on track to fall off by nearly a third as the decline in refinances outpaces the slow growth of purchase originations, according to an MBA forecast.

The nation's economy grew at an annual rate of 2.5 percent in the second quarter, the Bureau of Economic Analysis (BEA) revealed Thursday. Economists had expected the report--the third in the series of monthly GDP reports by the BEA--to show the economy had grown at a 2.8 percent annual rate, which would have been faster than the 2.5 percent growth rate BEA reported a month ago.

Republicans might adopt a wait-and-see approach to the nation's debt ceiling and not vote to increase it to see what might happen. That's playing with fire.

Despite lackluster performance from the economic sector, the housing recovery will press on and stimulate overall growth, according to Freddie Mac's most recent economic and housing outlook.

The Mortgage Bankers Association (MBA) revised its economic forecast down and its mortgage originations and mortgage rate forecasts up in its most recent outlook released Thursday. Having previously announced a 2.4 percent economic growth forecast for the second half of this year, MBA now believes economic growth will be closer to 2.2 percent. At the same time, the association's forecast for originations has risen to about $606 billion, an improvement over the original prediction of $527 billion.

Total retail activity rose $1.6 billion in June compared with an increase of $2.25 billion in May. Auto sales accounted for $1.4 billion of the June increase and sales at gasoline stations another $316 million. Gasoline prices rose about 1 cent per gallon from May ($3.68) to June ($3.69). In June, sales at building material and garden supply stores dropped $574 million from May, the largest month-over-month decline since May 2012. Sales increased in June at furniture stores, clothing stores, and health and personal care stores.

Adding new pressures for the Federal Reserve, the nation's economy added 195,000 jobs in June, leaving the unemployment rate unchanged at 7.6.percent, the Bureau of Labor Statistics (BLS) reported Friday. Economists had forecast payrolls would grow by 165,000, and that the unemployment rate would dip to 7.5 percent.