US economy slows in fourth quarter to 1.9%, 2016 growth 1.6%
Washington economy
Washington - Arab Today
The US economy slowed sharply in the final three months of the year, due to a downturn in exports, which meant growth in 2016 was well below 2015, the Commerce Department reported Friday.
The first estimate of Gross Domestic Product showed the economy slowed, posting growth of 1.9 percent in the September-December period, well below the 3.5 percent pace of the third quarter. For the full year, the economy expanded 1.6 percent, a full point below the pace of 2015 and the slowest pace since 2011.
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