Down but not out

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Vanguard economic and market outlook for 2019

As the global economy enters its tenth year of expansion following the global financial crisis, concerns are growing that a recession may be imminent. Although several factors will raise the risk of recession in 2019, a slowdown in growth—led by the United States and China— with periodic “growth scares” is the most likely outcome. In short, economic growth should shift down but not out.