December 06, 2018

The LJE quarterly forecast has a dual purpose. One is to produce a forecast that accurately captures the economic environment we foresee for the coming quarter. The second objective is to dress up the forecast with a parsimonious and coherent description of the foreseen economic environment. What type of valuation will such an environment produce? The combined forecast paints the following picture for the coming 12 months: an inflation rate in the 1.5% to 1.7% range and a 2.5% to 2.75% growth of economic activity that throughout 2019. Our valuation model suggests a high single digit equity appreciation for the next 12 months.

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