The U.S. economy is showing signs of weakening, with momentum slowing, fiscal stimulus decreasing and interest rates rising, according to a fourth-quarter market review from Madison-based First Business Financial Services Inc.

Among the concerns for 2019 are the U.S.-China relationship, particularly when it comes to tariffs; the partial government shutdown; increasing market volatility; and falling consumer confidence.

In addition, manufacturers’ confidence is at its lowest point since October 2016 and manufacturing growth has been slowing, with the national reading from the Institute for Supply Management at 54.1 in December.

“On the global front, after starting 2018 in a highly synchronized growth pattern, momentum declined in recent months,” the report says. “Broadly speaking, rising U.S. interest rates, a strong dollar and trade concerns put a damper on growth.”

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