The UCLA Anderson Forecast, a widely watched and often-cited economic outlook, says that US growth will slow to 1.7% in 2019, and 1.1% in 2020.
The UCLA Anderson Forecast is seen as a bellweather for the state of California and the wider US economy and has predicted a weakening in growth in 2019.
UCLA Anderson's first quarter report sees US growth slowing in 2019 before slowing even further to near recessionary levels in 2020. While the global economy started out strong in 2018, signs of its weakening will likely be everywhere by year's end," according to the UCLA Andersonpublished on Wednesday. The forecast has previously predicted downturns in the economy of the state of California and has a similar read on the wider US economy.
The basis for the view comes from policy warnings that the impact of fiscal stimulus is waning while the ability of the Federal Reserve to normalize interest rates is also lower. Similarly, the ongoing US-China trade war and the potentially disastrous fallout from Brexit have increased uncertainty and has contracted global interest rates.
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