All indicators are pointing to a slow progress for the U.S. economy following the November election, while the stock market should continue to reap 8% to 9% returns over the course of this decade, one portfolio manager predicted Wednesday.

"We are looking at the next two years at least of a slow grind; I emphasize grind, for the economy," David Sowerby, a portfolio manager at Loomis Sayles & Co., an investment firm focusing on mutual funds and institutions, said. Sowerby made his comments during a webinar on Wednesday hosted by Envestnet, a wealth management technology provider headquartered in Chicago.

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