Private Wealth Commentary: Q4 2019

Economic Outlook
There is much media discussion and investor concern about what may be ahead in 2020 and beyond. Indeed, similar concerns came up at the beginning of 2019. It is not wise to manage investments based on emotions that the market is “due” for a correction, even while pundits foster this fear. Macro data points indicate mostly slowing economies in the U.S. and overseas, and domestic industrial production had its worst annual growth since October 2016. However, this still correlates to GDP growth in the 1.5%-2.0% range, which is hardly recessionary.

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