Contact: Kevin Langin, 402-602-3541
Release Date: January 23, 2019
—Expecting Modest GDP Growth at 2%, With Strong Consumer Sector as Driving Force, Low Probability of Recession—
OMAHA, Neb. January 23, 2019—First National Bank of Omaha today released its 2019 Outlook. Prepared by First National Bank’s Wealth Management division, the outlook provides a comprehensive evaluation of the U.S. and global economy and how, using the bank’s forecasted trends, to tailor portfolios to meet life goals.
“The U.S. economy was relatively strong in 2018, and we think growth will continue in 2019. However, our expectation is that economic activity will decelerate this year,” said Kurt Spieler, Chief Investment Officer, Wealth Management, First National Bank of Omaha. “We believe the driver of the ongoing expansion will come from the consumer sector, which accounts for approximately 70% of economic activity.”
Among the outlook’s forecasted economic trends for 2019:
Primary risks are identified as Federal Reserve monetary policy mistake and continued deceleration of global economy activity. While First National Bank sees a low probability of a recession this year, other economists are forecasting a downturn in 2020.
“We understand that volatility and market losses are creating anxiety and questions from investors who are on the journey to reach their financial goals, but history shows that investors are rewarded when they adhere to their financial plan and stay invested through the market cycles,” said Spieler. “Successful investors stay disciplined, maintain a long-term perspective, and take advantage of market volatility.”
To read the full text of First National Bank’s 2019 Outlook—which outlines in-depth data, trends, insights and analysis for investors, businesses and consumers across the country—visit https://www.fnbo.com/documents/wealth-outlook-2019.pdf