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2019 TMSA Logistics Marketing & Sales Conference

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The Outlook for the North American Economy
The North American economy (and in the U.S. in particular) has finally escaped from a decade in the doldrums. Pro-growth policies have spurred optimism in both consumers and businesses, and a strong labor market and rising incomes will support the economy through 2019. But headwinds are emerging. Fed tightening in 2018 has yet to have its full effect on the economy, fiscal stimulus will be waning towards the end of the year, the housing market has been stumbling, and continuing trade concerns are all creating significant risks. Furthermore, in the long-term, workforce demographics are likely to keep growth rates from returning to levels seen in previous recoveries. The presentation will provide our forward outlook, and will examine developments in consumption, manufacturing, housing, financial markets and employment, and how fiscal and monetary policies could affect the economy.

About the Presenter: Dan North has been with Euler Hermes North America since 1996, using macroeconomic and quantitative analyses to help manage Euler’s risk portfolio of more than $150 billion in annual U.S. trade transactions. As an economist he has appeared on CNBC, Fox Business News, France 24, The Street, and Bloomberg Radio and Television. He has been quoted by Barron’s, Business Week, Paris Le Monde, Tokyo Nikkei, the BBC, the New York Times and the Wall Street Journal. After having predicted the 2008-09 recession and its implications accurately, he was ranked 4th on Bloomberg’s list of the 65 top economic forecasters in 2010. North holds an MBA from the Wharton School of Business.