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US economy grew at solid 2.6 percent rate in fourth quarter

The U.S. economy grew at a solid rate of 2.6 percent in the final three months of last year.

The fourth quarter advance in the gross domestic product, the country’s total output of goods and services, followed gains of just above 3 percent in the second and third quarters, the Commerce Department reported Friday.

For all of 2017, the economy grew 2.3 percent.

Business investment in new plants and equipment rose at a 6.8 percent rate in the fourth quarter, while spending on home construction rose at a rate of 11.6 percent after two quarters of declines.

Economists expect even better growth this year, propelled by Trump tax cuts.

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