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Economy Not as Volatile as GDP Implies

Swings in net exports and inventories obscure the fact that economic growth in 2016 was steady but slow, says Morningstar’s Bob Johnson.

Jeremy Glaser: For Morningstar I'm Jeremy Glaser. The U.S. economy grew by 1.9% in the fourth quarter and 1.6% for all of 2016. I'm here with Bob Johnson, our director of economic analysis, to see what drove these lower numbers, and also his expectations for 2017. Bob, thanks for joining me.

Bob Johnson: Great to be here today.