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The U.S. economy expanded 1.9 percent between October and December, government data showed Friday morning, capping off a long period of tepid expansion under the Obama administration.
Growth in the gross domestic product, the total output of goods and services in the country, was just below average growth of 2.1 percent seen since the beginning of 2010.
The reading fell short of expectations of economists surveyed by Bloomberg News, who had forecast 2.2 percent annualized growth in the period.
For the full-year 2016, the economy expanded 1.6 percent, government data showed, down from an increase of 2.6 percent the prior year.
The data was the first reading from the Commerce Department and will be revised twice more in coming months. The economy surged to 3.5 percent growth in the third quarter, driven partly by an unusually large volume of soybean exports.
https://www.washingtonpost.com/news...p-845am:homepage/story&utm_term=.e79b07b0ae78
Growth in the gross domestic product, the total output of goods and services in the country, was just below average growth of 2.1 percent seen since the beginning of 2010.
The reading fell short of expectations of economists surveyed by Bloomberg News, who had forecast 2.2 percent annualized growth in the period.
For the full-year 2016, the economy expanded 1.6 percent, government data showed, down from an increase of 2.6 percent the prior year.
The data was the first reading from the Commerce Department and will be revised twice more in coming months. The economy surged to 3.5 percent growth in the third quarter, driven partly by an unusually large volume of soybean exports.
https://www.washingtonpost.com/news...p-845am:homepage/story&utm_term=.e79b07b0ae78