Investments

INVESTMENTS: Markets had strong 3Q, but shutdown drags on growth

Times Board of Economists - Report from Mark Ennes, a wealth management advisor at Merrill Lynch
2013-10-20T00:00:00Z 2013-12-18T16:20:19Z INVESTMENTS: Markets had strong 3Q, but shutdown drags on growthJoseph S. Pete joseph.pete@nwi.com, (219) 933-3316 nwitimes.com
October 20, 2013 12:00 am  • 

Major financial markets have been performing well, but the shutdown could slow the pace of growth, a Northwest Indiana investment adviser said.

Merrill Lynch's chief economist for North America cut his fourth-quarter gross domestic product forecast from 2.5 to to 2 percent, after the federal government shutdown entered its second week, said Mark Ennes, a wealth management adviser for the firm's Merrillville office. That growth could be transferred to the first quarter of 2014, assuming the shutdown is resolved shortly.

Returns for most major markets in the United States had been solid in the third quarter, Ennes said The S&P 500 Index returned 5.2 percent for the quarter and 19.8 percent year-to-date.

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