The U.S. Economic Recovery: Long, Slow, but Still Going
There’s a lot to complain about when it comes to the U.S. recovery. Unemployment isn’t falling fast enough or far enough. Manufacturing is weak. Gross domestic product is expanding at a modest 2 percent clip. Yet this recovery has one advantage: It keeps going. “The current expansion can continue another four to five years,” says Robert Gordon, a professor at Northwestern University and a member of the National Bureau of Economic Research committee that determines when recessions begin and end. That would make this upswing the second longest on record, behind only the 10-year period that spanned the 1990s. The average recovery since the end of World War II is 58 months.
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