For the 1st time ever, the US economy started and ended an entire decade without a recession, the longest expansion in our history, researchers say.
The National Bureau of Economic Research found, as of December, the economy has expanded for a record 126 consecutive months.
“It is unusual that this has been such a persistent recovery,” said the chief US economist at Bank of America Merrill Lynch.
Much of the expansion over the decade has been spent recovering from the Great Recession of Ys 2007-09.
The economic research group, which keeps the official tally of US recessions, found expansions have lasted an average of 58.4 months from Ys 1945 to 2009, compared to 35 months from 1919 to 1945.
David Wilcox, former director of the Division of Research and Statistics at the Federal Reserve Board, said stimulus efforts were Key.
Thursday, the major US stock market indexes finished at: DJIA +137.68 at 28376.87, NAS Comp +59.48 at 8887.23, S&P 500 +14.23 at 3205.37
Volume: Trade on the NYSE came in at 972-M/shares exchanged
- NAS Comp +33.9% YTD
- S&P 500 +27.9% YTD
- Russell 2000 +23.6% YTD
- DJIA +21.7% YTD
HeffX-LTN’s overall technical analysis for the major US stock market indexes is Very Bullish in here.
Looking ahead, investors will receive Personal Income and Spending for November, the 3rd estimate for Q-3 GDP, and the revised University of Michigan Index of Consumer Sentiment for December Friday.
Have a terrific weekend.