Big picture: The U.S. economy slowed during the summer and fall largely due to worries over the trade fight with China. Farmers and manufacturers have been particularly hard hit while anxious corporate chieftains have been more reluctant to hire, spend and invest.
What’s kept the economy going is strong consumer spending, the byproduct of the best labor market in decades. The U.S. is unlikely to grow much faster until trade tensions with China are either reduced or resolved.
What they are saying?: “Taken together, the LEI suggests that the economy will end the year on a weak note, at just below 2 percent growth,” said Ataman Ozyildirim, economist at the board.