WASHINGTON — The U.S. economy lost momentum in the final three months of 2016, closing out a year in which growth turned in the weakest performance in five years.

The gross domestic product grew at an annual rate of 1.9 percent in the October to December period, a slowdown from 3.5 percent growth in the third quarter, the Commerce Department reported Friday.

For 2016, the economy grew 1.6 percent. It was the worst showing since 2011 and down from 2.6 percent growth in 2015.

President Donald Trump has set a goal of doubling growth through a stimulus program featuring tax cuts, deregulation and higher infrastructure spending.

Private economists believe sustained annual growth rates of 4 percent will be tough to achieve given underlying trends such as slow growth in the labor market and weak productivity. However, many analysts have been boosting their forecasts believing that Trump will succeed in getting at least a portion of his program approved by a Republican-led Congress.

For the fourth quarter, the biggest factor contributing to the slowdown was a widening in the trade deficit. Exports, which had been temporarily bolstered by a surge in sales of soybeans to Latin America, retreated in the fourth quarter. Meanwhile, imports surged.

Trade cut 1.7 percentage point from growth in the fourth quarter after adding 0.9 percentage point to growth in the third quarter. Consumer spending slowed to 2.5 percent growth in the fourth quarter from 3 percent in the third quarter.