Weekly Market Commentary 03/16/2018

Given the economy’s recent history of first-quarter slumps, it would probably be a mistake to view the onslaught of weak data as particularly ominous. Still, the underwhelming performance of several key indicators this year is testing the patience of die-hard optimists who thought the robust job market, high level of confidence and massive fiscal stimulus would send the economy off to the races. But despite these catalysts the nation’s growth engine is hardly accelerating; instead, it seems to be running on fewer cylinders with each passing month. Not surprisingly, economists have been steadily marking down their growth estimates for the first quarter.