By Scott J. Brown, Ph.D., Raymond James
A Downshift in Expectations for 4Q19 – Focusing more on a possible mini trade deal with China, financial market participants have largely ignored the recent economic data reports. The figures suggest a softer growth trend in early 4Q19 and many economists have been lowering their GDP forecasts. Growth is often lumpy from quarter to quarter and the fundamentals imply a moderate economic expansion in 2020. However, as widely noted, recessions are often psychological in nature.