This month marks the 121st month of the economic expansion arising out of the great financial crisis, making it the longest run on record going back to 1854.
This cycle, starting in June 2009, breaks the record of 120 months of economic growth from March 1991 to March 2001, according to the National Bureau of Economic Research.
Perhaps because of the overhang of the housing crisis, this run has been weaker than past expansions in total. The cumulative total of quarterly GDP growth figures equals 25%, far lower than previous booms.
While the unemployment rate has dropped from a peak of 10% in October 2009 to 3.6% in May, the lowest since 1969, job growth has been relatively slower than during other postwar recoveries.
But despite some internal weakness, this expansion keeps trucking along, getting its latest boost from the Trump tax cut of 2018 along with a relaxation in business regulations, according to economists.
However, it now appears to need some help if it’s going to continue to…