US economy grows at 1.6% in 2016, weakest showing since 2011

January 27, 2017 19:51

The US economy lost momentum in the final three months of 2016, closing out a year in which growth turned in the weakest performance in five years.

The commerce department says the gross domestic product grew at an annual rate of just 1.9 per cent in the October-December period, a slowdown from 3.5 per cent growth in the third quarter.

For 2016, the economy grew 1.6 per cent. It was the worst showing since 2011 and down from 2.6 per cent growth in 2015.

US President Donald Trump has set a goal of doubling growth through an ambitious stimulus program featuring tax cuts, deregulation and higher infrastructure spending

« Back to LIVE

TOP STORIES

Russia to deliver 2 more S-400 missile system regiments to India next year

According to the original timeline, the ships were to be delivered by 2022, they said, attributing the delays in the delivery to Russia's war in Ukraine.

Will Nilesh Kumbhani join BJP? Cong says lost contact with him

Local Congress workers, led by city unit's working president Dinesh Savalia, staged a protest outside Kumbhani's locked house in Puna Gam area, calling him traitor and accusing him of giving a walkover to the BJP.

UPA govt took no military action after 26/11 because...: Jaishankar

Describing India as a voice of the 'Global South' (comprising about 125 countries), he said the countries of the Global South trust India to take up their cause and positions in the world.

X user booked over deepfake video of Ranveer Singh

Ranveer Singh never said this, and he does not have any relation with any political party, his father said in the complaint.

Military strength, capabilities must to prevent wars: Army chief

Addressing an event in New Delhi, Gen Pande also said the recent global developments have underscored that the security of the nation can neither be outsourced nor be dependent on the largesse of others.