(CNBC) There’s a saying among economists that “expansions don’t die of old age.”
In the case of the American economy over the past decade, it rings true.
As of December, the U.S. economy has expanded for a record 126 straight months, the longest time period in the country’s history according to the National Bureau of Economic Research. Put another way, the U.S. has avoided a recession for an entire calendar decade for the first time ever.
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“It is unusual that this has been such a persistent recovery,” Michelle Meyer, chief U.S. economist at Bank of America Merrill Lynch, told CNBC.