December 2018: Long-term strategic outlook
A five-year returns forecast for major asset classes — updated twice a year to help you set strategic portfolio allocations
Our three scenarios result in lower expectations for economic growth. We were previously forecasting a business-friendly boost to growth. But now our most likely scenario is one where the benefits of fiscal policy begin to fade toward the end of 2019 or early 2020, and growth returns closer to long-term trend levels.