MBA Predicts Economy Will Grow in 2007
March 6, 2007
The economic growth in this nation will grow in the first half of this year and will accelerate from the second half of last year, it was predicted by the Mortgage Bankers Association. MBA expects economic growth to pick up, returning to a near normal rate over the course of 2008 through 2009, it was reported.
"Residential investment is expected to decline further through the first half of this year but at a diminishing pace," said Doug Duncan, MBA’s chief economist. "Economic growth should accelerate later this year to a trend-like pace as the drag from the housing market wanes. Long-term interest rates have remained historically low following two years of monetary tightening. Consumer spending growth is robust, helped by solid stock market gain, declining oil prices and healthy wage increases," he said.
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