The U.S. spent $3.34 trillion on health care in 2016 — a 4.3% increase from 2015 and an amount that almost equals Germany's entire economy, according to new data from the Centers for Medicare & Medicaid Services. That spending growth is slightly lower than what CMS initially predicted in February, and it's a lower growth rate than 2014 and 2015.

Yes, but: Even a slower 4.3% uptick in health care spending greatly outpaced the 2.8% growth of the broader U.S. economy. Health care continues to absorb a greater share of the overall economy, which eats into other areas like education and infrastructure.

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Data: Centers for Medicare & Medicaid Services; Chart: Andrew Witherspoon / Axios

Here are some of the other highlights of the national health spending data:

  • Total out-of-pocketing spending — which includes what Americans spent on deductibles, copays, coinsurance and uncovered services — increased 3.9% in 2016. That's the highest growth rate since 2007. More health care costs are falling on the shoulders of Americans, and it's a major reason why people are becoming even more upset with the system.
  • The amount Medicare spent on health care last year increased 3.6%, compared with 4.8% in 2015. CMS could not say how much, if any, of that lower growth rate could be attributed to models that pay for outcomes instead of volume.
  • The Affordable Care Act's expansion of health insurance coverage in the individual markets and Medicaid were major reasons why spending increased in 2014 and 2015. But insurance coverage remained mostly stable last year, hence why spending did not grow as much.

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Updated 13 mins ago - World

Hong Kong media tycoon Jimmy Lai arrested under national security law

Media tycoon Jimmy Lai at the Next Digital offices in Hong Kong in June. Photo: Anthony Wallace/AFP via Getty Images

Hong Kong pro-democracy activist Jimmy Lai has been arrested for "collusion with foreign powers," said Mark Simon, an executive at the tycoon's media firm Next Digital Monday morning local time.

Why it matters: He was arrested under the new national security law that gives Beijing more powers over the former British colony. Lai is the most prominent person arrested under the law, which prompted the U.S. to sanction Chinese officials, including Hong Kong leader Carrie Lam, over Beijing's efforts to strip the territory of its autonomy.

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Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 19,769,560— Total deaths: 729,351 — Total recoveries — 12,030,061Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 5,041,573 — Total deaths: 162,913 — Total recoveries: 1,656,864 — Total tests: 61,792,571Map.
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New York reports new low positive coronavirus test rate

People physically distancing at tables in New York City's Times Square in June. Photo: Johannes Eisele/AFP via Getty Images

New York Gov. Andrew Cuomo (D) announced Sunday 515 people, or 0.78% of those tested, returned a positive reading for COVID-19 the previous day.

Why it matters: It's the lowest single-day positive rate since the start of the pandemic. It's another sign that the state that was once a global coronavirus epicenter is curbing the spread of the virus. "Our daily numbers remain low and steady, despite increasing infection rates across the country, and even in our region," Cuomo said in a statement. "But we must not become complacent: Everyone should continue to wear their masks and socially distance."

Go deeper: Cuomo says all New York schools can reopen for in-person learning