The U.S. economy grew at an annual rate of 1.6% in 2016, the Commerce Department reported Friday.
In the last three months of the year -- between October and December -- the economy grew at an annual rate of 1.9%. It’s the slowest pace of growth since 2011. It reflects how slow the recovery has been for many Americans since the Great Recession, which ended in 2009.
Weak economic growth was a key reason behind President Trump’s election. He promises to get growth up to 4% a year, something that hasn’t happened since the late 1990s.
Trump’s agenda to cut corporate and individual taxes, build more roads and bridges and cut away regulations have some optimistic that he can boost growth -- how much, is anyone’s guess. (CNN)
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