The US economy has updated the record for the duration of the growth period | FREE NEWS

The US economy has updated the record for the duration of the growth period

The US economy has set a record for the duration of growth, entering the 121st month of continuous recovery. This was reported on Monday by Fox Business channel.

The previous record for this indicator was set between March 1991 and March 2001. At that time, the 120-month economic growth was cut short by the events of March 2000, when the dotcom bubble burst.

The channel emphasizes that the current period of growth is accompanied by lower annual averages. Thus, over the past 10 years, the US economy has grown by an average of 2.3% annually, while over the 10-year period from 1991 to 2001 the average was 3.6%.

On Friday, the US stock indices closed with the best semi-annual indicators for the last almost 20 years. Thus, the S&P index, which includes the 500 largest companies in the US market, grew by 17% in six months, reaching 2941.76 points. Dow Jones industrial average gained 14% to 26599,96 points. The NASDAQ e-exchange index closed at 8006.24 points, gaining 20.4% in six months.