Like a runner trained for long distances, America's economic expansion is showing remarkable staying power, if not robust speed. The U.S. recovery, which passed the four-year marker in November, just keeps chugging ahead in spite of ever present doubts and dangers along the road. Since its start in 1982, the expansion has been refreshed at crucial intervals, first by the plunge of interest rates and later by the fall of oil prices. Now, at 49 months and counting, the durable recovery is already the second longest peacetime boom in U.S. history, after the 58-month expansion in 1975-79.
And the economy is...
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