Capital Markets: Observations & Insights
The Upside of Being Slow Birthday Wishes
• While this expansion is chronologically old, it has not grown GDP as much as economic recoveries of comparable length
• This suggests a possibly longer runway of economic expansion now
60%
1960
50%
1990
40%
1981
30%
Room to catch up?
20%
1969
1973
2001
Current
10%
0%
Real Cumulative GDP Growth
-10%
0
2
4
6
8
10
12
14
16
18
20
22
24
26
28
30
32
34
36
38
40
42
44
Number of Quarters from Peak
Source: U.S. Bureau of Economic Analysis and Alger as of March 2019. Dates indicate beginning of measurement periods.
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