Fannie Mae downgraded its forecast for U.S. economic growth, citing a "ratcheting up of trade tensions," and said 2020 will see the worst economy in more than a decade. The mortgage giant revised its projection for GDP growth to 1.5% for next year, which would be the worst performance since a 2.5% contraction in 2009, according to data from the Bureau of Economic Analysis .

Fannie’s economic forecast. During 2019, Fannie Mae expects the GDP growth to rebound slightly from the 1.8 percent growth seen in the first quarter. Growth is expected to hit a high of 2.4 percent in the third quarter of 2019 before declining in 2020.

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WASHINGTON, Feb. 21, 2019 /PRNewswire/ — The Fannie Mae Economic and Strategic Research (ESR) Group in its February forecast update is maintaining its prediction for 2.2 percent full-year growth.

The Fannie Mae Economic and strategic research group revised upward its full-year 2018 economic growth forecast to 3.0 percent – from 2.8 percent in the prior forecast – on expectations that third and fourth quarter inventory restocking will outweigh slowing consumer spending growth and a decline in net exports, according to its august 2018 economic and Housing Outlook.

The Fannie Mae Economic and Strategic Research Group revised upward its full-year 2018 economic growth forecast to 3.0 percent – from 2.8 percent in the prior forecast – on expectations that third and fourth quarter inventory restocking will outweigh slowing consumer spending growth and a decline in net exports, according to its August 2018 Economic and Housing Outlook.

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Fannie Mae has revised its economic forecast downward. Trade tensions are causing uncertainty for investors and driving mortgage rates downward. NEXT: Most expensive homes sold in Houston May 2019

Fannie Mae Holds 2019 Forecast Steady at 2.2 Percent Growth and One Fed Rate Hike PR Newswire 8:00 AM ET The Fannie Mae Economic and Strategic Research (ESR) Group in its February forecast update is maintaining its prediction for 2.2 percent full-year growth in 2019, down from 3.1 percent in 2018. A smaller boost from previously

Fannie mae revises economic forecast downward for next two years. Fannie Mae has revised its economic forecast downward. Trade tensions are causing uncertainty for investors and driving mortgage rates downward. NEXT: Most expensive homes sold in Houston May 2019 Fannie Mae has revised its economic forecast downward..

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