Fannie Mae Revises Growth Estimate

Fannie Mae has revised its economic growth forecast to 1.4 percent this year, down from a July estimate of 2.4 percent, and to 2 percent for 2012, down from its prediction of 3.1 percent last month. The firm expects housing activity to weaken, except for the rental sector. The housing market and overall economy, it said, will be impacted by lower business and consumer confidence and a slowdown in hiring.

Source: "Fannie Mae Revises Growth Estimate