It’s shaping up to be a challenging year for the U.S. economy.
Trade wars are threatening growth, job creation is slowing and the stimulus from the Trump administration’s tax cuts appear to have faded. That means the U.S. economy is likely to expand at a much slower pace this year, after posting its best annual growth performance in three years during 2018.
The widely-followed GDPNow tracker from the Atlanta Fed forecasts that the U.S. economy expanded by 1.4 percent throughout the months of April, May and June, bringing the average pace of growth so far this year down to 2.25 percent, about one percentage point lower than where it was at this time last year.
But could this slowdown be reversed, bringing the pace of growth back up to its level from last year? Or does this mean a downturn is on the horizon?
Here’s a look at what top economists are saying.