US records worst growth rate since 2011

The Commerce Department says the GDP grew at an annual rate of just 1.9% in the October-December period, a slowdown from 3.5% growth in the third quarter.

Construction personnel work on a building project in Chicago on January 18, 2017. The U.S. 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, according to information released on Friday, by the Commerce Department.

The U.S. 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% in the October-December period, a slowdown from 3.5% growth in the third quarter. GDP, the broadest measure of economic health, was held back by a jump in the trade deficit.

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

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