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title: Outlook 2020, Homepage
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#### ***Outlook 2020: Slower Growth, with a Chance of Recession***Download our free commentary for a look at what to expect in the coming year.

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With political concerns—including the impeachment inquiry, Brexit, and the U.S.-China trade war—likely to be resolved early in the year, uncertainty should be reduced significantly. Major market indicators have moved closer to recessionary levels, however, meaning there’s a chance of a downturn.

Brad McMillan, Commonwealth’s chief investment officer, looks at several factors that will impact where we’re headed, including:

- **Job growth and consumer confidence**
- **Business confidence and investment**
- **Government spending and the balance of trade**

Most indicators point to slower but continued growth in 2020 as the underlying fundamentals continue to weaken. There is a real risk of a recession since the expansion cycle has lasted much longer than usual. But, even if we do experience a downturn sometime in the new year, it should be much milder than many fear.

### Send me my free copy of *Outlook 2020: Slower Growth, With a Chance of Recession.*

*This material is for educational purposes only and is not intended to provide specific advice*.  
Commonwealth Financial Network®, Member [FINRA](http://www.finra.org/)/[SIPC](http://www.sipc.org/). Please review our [Terms of Use](http://www.commonwealth.com/termsofuse.html).

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