800,000 federal workers went on furlough October 1, 2013,
as a result of the federal government’s inability to adopt a
new fiscal year budget. This is certainly going to produce
a negative impact on the spending habits of these federal
workers, but just how much?
A Forecast of Interest:
The forecast for general economic growth over the next 9
months assumes an acceleration in homebuilding and home
buying. And for the first half of 2013, new housing starts and
new home purchases were steadily rising, consistent with a
recovery gaining momentum.
However, both of these indicators have backed off now,
though existing home sales throughout the U.S. remain
strong.
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