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U.S. Economy Loses Steam in Q4

The economy south of the border lost momentum in the final quarter of 2016, finishing a year in which growth turned in the weakest performance in five years.

Figures released Friday by the U.S. Commerce Department show the gross domestic product grew at an annual rate of only 1.9% in the October-December period, a slowdown from 3.5% growth in the third quarter.

The department added that GDP, the broadest measure of economic health, was held back by a jump in the trade deficit.

For 2016, the economy grew 1.6%, the worst showing since 2011 and down from 2.6% growth in 2015.

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