This article was published by The McAlvany Intelligence Advisor on Monday, November 26, 2018:
The report from the Conference Board last Wednesday was gloomy. Said the board’s Director of Economic Research, Ataman Ozyildirim:
The US LEI increased slightly in October, and the pace of improvement slowed for the first time since May. The index still points to robust economic growth in early 2019, but the rapid pace of growth may already have peaked.
While near term economic growth should remain strong, longer term growth is likely to moderate to about 2.5 percent by mid to late 2019.
On Black Friday, U.S. shoppers ignored the Conference Board and went on a shopping spree for the record books. Online shoppers spent more than $6 billion while overall sales totaled $23 billion. That’s almost 10 percent ahead of last year’s Black Friday results.
And it’s likely to get even better.