June 2016 marks the seventh anniversary of the current economic growth cycle. Its durability to date makes it the fourth-longest expansion in the postwar period—and two years longer than the average. Yet questions of sustainability have plagued this cycle almost every quarter. Nonetheless, one of the most important features of the current cycle is its youthful image, which we think bodes well for its lifespan. In the end, we would not be surprised if the current cycle rivals the longest expansions on record and runs for another three years or more.
May 27, 2016