2012 Housing and Economy Spending Trends: Economists have put out a report recently stating that they expect to see improvements in certain areas of the country’s economy in 2012. Just a few months ago, they predicted that new housing construction would “break ground” on 660,000 new homes, but they now report they expect at least 700,000 new homes, an increase of 15 percent. They are also calling for increases in business spending as well as the nation’s Gross Domestic Product, or GDP.
2012 Housing and Economy Spending Trends
Business spending, according to the economists, is supposed to grow this year, along with industrial production. If their predictions are correct, this can mean an upturn for the nation’s economy as a whole and provide a sense of stability for consumers and those seeking to purchase homes in the next year or so. However, the economists also believe that consumers will continue to “penny-pinch” this year, and we will not see an increase in spending for another year or so. In terms of consumer confidence only time will tell, but for the time being things seem to be trending in the right direction.
Information for this article was obtained from Washington Post.