Beaulieu: Economic Indicators Point to Slowing Growth

Major leading economic indicators are all telling the same story—that U.S. economic growth is slowing, with little effect likely from the Trump administration tax cut, reported economist Alan Beaulieu of ITR Economics in his remarks Aug. 29 at the Steel Market Update steel summit in Atlanta.

While an average GDP growth of 2.6 percent in the last 12 months indicates the economy is strong, that doesn’t show the complete picture. The rate of growth in industrial production has slowed and may have peaked, he told the crowd of steel executives at the Georgia International Convention Center. “This is the beginning of a downturn in 2019. Not a recession like in 2008 and 2009, but it will be an off year. 2019 will be flat to mildly negative in some of your business segments, followed by a better year in 2020,” he forecast.