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Fannie Mae Bumps Up Full-Year GDP Growth Projections

Full-year 2021 real GDP growth expectations improved to 6.8%, including 9.1% annualized growth in the second quarter, Fannie Mae’s Economic and Strategic Research Group said Friday. The 20-basis-point uptick in the full-year forecast derives mainly from the continued easing of virus-related social restrictions and stimulus-driven consumer spending.

“The ramp-up we’d previously forecast for the economy is underway, as evidenced by, among other measures, increasing airline passenger reservations and restaurant bookings,” said Doug Duncan, SVP and chief economist at Fannie Mae. “Vaccinations are continuing to roll out, and consumers appear to be increasingly looking toward post-pandemic life.”

The ESR Group noted, though, that risks to this part of the forecasted recovery remain elevated. Uncertainties include the extent of consumers’ willingness to tap into their accumulated savings and return to previously COVID-restricted activities. They also include well-publicized supply chain disruptions, the pace of inflation, and both monetary and fiscal policy uncertainty.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
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