When a person offers an argument in direct response to a challenge, it is usually easy to see which statement is the conclusion and which are the premises. But sometimes people will anticipate that their statements could be challenged and will offer arguments in support of their beliefs without being asked to. In these cases it is harder to distinguish between their premises and their conclusion.
It is most common for a person to state their conclusion first and then follow up with their reasons. For example, "The US economy will slow down in the coming decades because foreign competition will take some of our business and an aging population will be less productive."
The first statement is the conclusion and the second and third statements are the premises. Often people will indicate which of their statements is the conclusion by using conclusion indicators.
Conclusion Indicators: therefore, thus, hence, so, accordingly, consequently, it follows that, we may conclude, it must be that, implies that, shows that, as a result, indicates that, for this reason, etc. The conclusion is the statement that immediately follows the conclusion indicator.
Premise indicators : because, for, since, given that, as, inasmuch as, owing to, seeing that, in that, it may be inferred from, whereas, etc. The statement that immediately follows a premise indicator is a premise.