US real gross domestic product grew at an annual rate of 1.9% in the fourth quarter, according to the “advance” estimate of GDP growth released today by the US Commerce Department.

In the third quarter, real GDP increased 3.5%.

The median forecast in a Bloomberg survey called for a 2.2% advance in the fourth quarter. US economic growth slowed more than forecast last quarter on the biggest drag from trade in six years and more moderate consumer spending, Bloomberg reported. Business investment picked up, which may be a harbinger for faster expansion in 2017.

“During the second half of 2016, growth strengthened compared to a weak first half of the year, buoyed by strong domestic demand which has been fueled by a vibrant labor market,” Brian Schaitkin, senior economist at The Conference Board said in a statement. “Overall, the economy enters 2017 on steady footing, but will need stronger trade and investment conditions to prevail to move substantially above 2.0% trend growth. Even with a slight slowdown in job creation, wage growth is likely to continue as the amount of spare capacity firms have to draw from remains small.”