Despite the political claim that America is in failing health and only a totally free-enterprise economy can revive it, the total value of all goods and services produced in the U.S. grew again in the fourth quarter, according to government statistics.
The Commerce Department said Gross Domestic Product (GDP) increased at an annual rate of 2.1 percent in the final three months of 2016. That's down from the third quarter rate of 3.5 percent, but that the economy has grown in all but one fiscal quarter for the past four years.
Meanwhile, domestic income increased by 1 percent, the agency said.
The slowdown in GDP reflected downturns in exports and in federal spending, the agency said, as well as a rise in imports.
The total value of all goods and services produced yearly in America remains well above the $18 trillion level, rising 1.6 percent during 2016.
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