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Gross domestic product in the fourth quarter of 2017 rose 2.6 percent on an annualized basis, compared to 3.2 percent in the third quarter, according to the Bureau of Economic Analysis. The rate of economic growth for the 2017 calendar year was 2.3 percent, compared to 1.5 percent in 2016. Several components of GDP were particularly strong heading into 2018, including overall demand for goods and services from consumers and private businesses, business investment in new equipment, residential investment and exports.

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Follow Mitchell Hartman at @entrepreneurguy