Economy may slow to end year

The economic situation could slow as the year closes out.

The economic situation may not pick up throughout the end of this year, as there have been multiple issues that prevented further growth. This could signal a mixed message for some property management companies.

Economic growth during the final three months of the year will likely fall short of the third quarter's progress for multiple reasons, a report from Fannie Mae's Economic Strategy & Research Group explained. This included the "fiscal cliff," as well as the effects from Hurricane Sandy. Overall growth will be approximately 1.2 percent for the final three months of the year.

"With data pointing to soft economic conditions and the fiscal policy debate hanging in the balance, we expect growth in the current quarter to moderate from the pace seen last quarter," said Doug Duncan, chief economist for Fannie Mae.

This also affected the residential housing market during the fourth quarter, which may mean that more consumers decided against purchasing a home, and instead chose to rent. The report explained that the residential market's contribution to economic growth this year will remain at a low level, despite some improvement.

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