from the St Louis Fed
– this post authored by Kevin L. Kliesen
The U.S. economy ended 2016 on a soft note, based on the advance estimate for real gross domestic product (GDP) growth for the fourth quarter. Still, economic conditions last year were broadly similar to those seen during this business expansion: modest growth, low inflation and mostly healthy labor market conditions. The majority of forecasters expect more of the same this year, although optimism appears much brighter in financial markets and among consumers and businesses.