Xinhua, the Chinese state-run news agency, carried a story on Wednesday, citing various economists as to why the US economy will slow this year.
"Real U.S. gross domestic product (GDP) growth of 2.7 percent is forecast for 2019, slowing in the second half of the year as the effects of fiscal stimulus begin to fade," analysts from Bank of America (BofA) Merrill Lynch Global Research said in their 2019 outlook report.
The projection of an economic slowdown was widely shared by many renowned institutions. Goldman Sachs said in November that the U.S. GDP growth will slow to below 2 percent in the second half of 2019, as the U.S. Federal Reserve continues to raise interest rates and the effects of corporate tax cuts fade.
"Growth is likely to slow significantly next year, from a recent pace of 3.5 percent-plus to roughly our 1.75 percent estimate of potential by end-2019."