More bad news for the US economy and for much of the rest of the world is now occurring and much more frequently. A good indicator of things to come for the US economy is the housing market. The latest release of the NAHB Housing Market Index showed a decline to 60 from 67 the month before, with the sub-index for single-family homes down to 67 from 74, the outlook for the next six months is also poor.
Also a sign of slower economic growth ahead, the rate of hotel visits is down for the year and so are the trips for restaurants. While the numbers are still positive, the direction clearly is down.
Meanwhile, the Federal Reserve has indicated that it might scale back its planned rate hikes in 2019.
On the positive side, inflation remains low and is expected to be low in the foreseeable future. Along those lines, crude prices continue to weaken. This development could be a harbinger of further economic decline everywhere.
As for the rest of the world, the outlook is also worrisome. Growth remains positive for the moment, but at a lower level. The ECB recently scaled back its stimulative policies. More than likely it will keep those policies in place for much longer than was expected.
Clearly, there is a struggle going on to keep the world economies growing.