June 10, 2019

Given our forecast of an inflation rate below the 2% target range and a steady real GDP growth rate averaging between 2.5% and 2.5%, it should not be surprising that the LJE forecasting model projects a mid-single digit improvement in the year-over-year real change in operating earnings. As the expansion continues, we expect a deceleration in the earnings growth and a deterioration of the year over year comparison.

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