Fannie Mae: Housing to boost economy in second half of 2013

The U.S. economy, which has slowed slightly due in part to the federal sequester, is expected to reaccelerate in the second half of this year, with housing serving as a “significant contributor to growth,” according to Fannie Mae’s Economic Outlook for May.

“Our May forecast predicts that the second half of 2013 will be a little stronger than the first half, despite the slowdown during the past couple of months,” Fannie Mae Chief Economist Doug Duncan said of the economy in a news release.

Duncan points to improving employment numbers, rising consumer confidence and a housing market that “continues to grow at a sustainable, if not yet robust, pace,” and that is expected to act as a “tailwind for the economy throughout the year and into 2014.”

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