Photo: ReutersWashington: The US economy slowed sharply in the final three months of the year largely due to falling exports, pulling 2016 growth to its lowest since 2011, the Commerce Department reported on Friday. For the full year, the economy expanded 1.6%, a full point below the pace of 2015. Exports fell 4.3% in the latest quarter, while imports rose 8%. Federal spending fell 1.2%. And the economy was buoyed by an 11% surge in spending on durable goods, like large appliances, and a 10% jump in residential investment.

Source: Mint January 27, 2017 18:50 UTC