The current economic expansion is now in its tenth year, is the second longest since the beginning of the 20th century and the slowest growing since WW II. The economy is strong and we expect it to continue growing, but at a much slower rate in 2019, with gradual declines in consumer spending and business investment.

The Index of Leading Economic Indicators is mostly pointing to continued strength during the first half of the year, but the data has started to change, most notably with weakness in housing and a flattening yield curve.

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