Annual growth in the real Gross Domestic Product of the United States has not exceeded 2.7 percent for a record eleven straight years, according to data published by the Bureau of Economic Analysis.
In the fourth quarter of 2016, according to the BEA, real gross domestic product grew at an annual rate of 2.1 percent. But for the full year of 2016, it grew by only 1.6 percent. The BEA’s “advance” estimate for the first quarter of 2017 showed growth in real GDP slowing to an annual rate of 0.7 percent.
The 1.6 percent growth in real GDP for 2016 is the slowest annual economic growth the United States has seen since 2011, when real GDP also grew by 1.6 percent.
The last time real GDP grew by 3.0 percent or more was 2005, when it grew by 3.3 percent.
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