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    US Economic Growth Drops to 3-Year Low in First Quarter, Stands at 0.7%

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    Real gross domestic product (GDP) increased at an annual rate of 0.7 percent in the first quarter of 2017, according to the US Department of Commerce’ Bureau of Economic Analysis.

    WASHINGTON (Sputnik) — The growth of the US GDP has reached 0.7 percent in the first quarter of 2017, which is the lowest mark compared to the first quarters of 2015 and 2016, the US Department of Commerce’ Bureau of Economic Analysis said in a release on Friday.

    "Real gross domestic product (GDP) increased at an annual rate of 0.7 percent in the first quarter of 2017," the release stated. "In the fourth quarter of 2016, real GDP increased 2.1 percent."

    During the 2016 election, then-presidential candidate Donald Trump promised to bring manufacturing sector jobs back to the United States and focus on improving the domestic economy.

    US Secretary of the Treasury Steven Mnuchin has previously said that the Trump administration’s goal of 3 percent economic growth is "very achievable."


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