U.S. economic momentum is expected to slow entering 2012, with financial-market stress from European debt problems posing the biggest risk, analysts with housing-finance company Fannie Mae said Tuesday.
The euro zone is expected to remain in recession during the first half of 2012, leading to persistent U.S. volatility, analysts said.
Additionally, analysts expect the U.S. housing market to "remain subdued" in 2012, and that national fiscal problems and debate will be somewhat damaging.
"It's important to recognize that we're ending 2011 on a stronger note than we've seen throughout the year. Unfortunately, however, our 2012 outlook is not as rosy as our forecast for the fourth quarter of 2011," said Doug Duncan, Fannie Mae's chief economist, in a statement. "The very large fiscal impact of pending tax and legislation decisions will likely tamp down overall growth expectations for 2012."
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