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Growth slowed significantly to end the year, after a 3.5 percent growth rate in the third quarter. Nevertheless, the second half was significantly stronger than the anemic first half of the year. (AP Photo/Gene J. Puskar)

The U.S. economy grew at a 1.9 percent annual pace in the last quarter of 2016, according to revised Gross Domestic Product data published by the Bureau of Economic Analysis Tuesday morning.

Tuesday’s report disappointed investor expectations, which were for an upward revision to 2.1 percent.

Consumer spending was revised up to a strong 3 percent, but that increase was offset by lower government spending and business investment than previously thought, leaving the total growth rate unchanged at 1.9 percent.

Growth slowed significantly to end the year, after a 3.5 percent growth rate in the third quarter. Nevertheless, the second half was significantly stronger than the anemic first half of the year.

The GDP data is adjusted for seasonal variations.

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