Patrick Artus, analyst at Natixis, suggests that the US growth is bound to slow down in 2019 due to the return to full employment and the decline in housing investment and in purchases of durable goods and cars.
Key Quotes
“When we look at interest rate forecasts, share prices and earnings forecasts, credit spreads and exchange rates in the United States, we see that the growth slowdown is probably already expected to quite a large extent, and that it is already largely factored into market prices.”
“If financial markets are already pricing in a weakening of growth in the United States, this weakening should not lead to a further deterioration in financial markets.”
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