Will Downturn in Home Sales and House Prices Have a Major Negative Impact on Consumer Spending in 2008?
The Graph of the Week comes from the February 2008 NABE Outlook and shows the response to the question "Will Downturn in Home Sales and House Prices Have a Major Negative Impact on Consumer Spending in 2008?
From the survey:
The housing slump is likely to have a major negative impact on consumer spending this year according to more than 60% of the economists polled for their views. This contrasts to the trend during the earlier phase of housing’s downturn, when the ripple effects were limited.
NABE members can read the full survey here. A summary is available to the public. See the NABE Economic Calendar on the home page for links to the upcoming releases.