U.S. economy grew last year at its fastest rate since 2015

The U.S. economy slowed modestly in the last quarter of 2018 but still grew at the fastest rate in three years, the Commerce Department reported Thursday.

GDP, or gross domestic product, is the broadest measure of all the goods and services produced within the economy. It expanded at a 2.6 percent annualized rate in the fourth quarter, a slowdown from the 3.4 percent growth in the third quarter.

The main reason grows fell in the fourth quarter: a decline in consumer spending. The government shutdown in the last 10 days of the year also reduced growth by 0.1 percent (The latest GDP figure could change as the U.S. Commerce Department refines its estimate over the next few months.)