Don't underestimate US expansion: it's headed for a record

Washington

THIS US expansion may be moving like a tortoise, but it's on its way to win the race.

Widely disdained for its relatively weak growth and pay gains, the expansion is about to complete its eighth year - and it's headed to become the longest on record, according to a Bloomberg survey of economists. Respondents put a 60 per cent probability, based on the median estimate, on the growth streak running through at least July 2019 and thereby reaching 121 months, topping the 10 years of gains during the 1990s.