Australia has gone 27 years without a recession—here's what's behind the country's economic run

America's economic expansion is approaching a big milestone. If the U.S. economy keeps humming until July 2019 it would be the longest period of growth on record. The expansion would be exactly one decade and one month old by then.

But there's another country with an even more impressive run. Australia hasn't had a recession in 27 years.

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