US economic growth revised up
The US economy showed rigourous consumer spending in the fourth quarter and slowed less than was previously reported.
GDP increased to an annualised 2.1 percent up from previous estimate of 1.9 percent.
U.S. corporate profits rose again in fourth quarter, while overall economic growth was revised up https://t.co/10yeHYIYBG
— Wall Street Journal (@WSJ) March 30, 2017
The Commerce Department said that business activity moderated further at the beginning of the year.
The economy’s sluggish performance poses a challenge to President Donald Trump.
He vowed to boost annual economic growth to 4 percent by slashing taxes, increasing infrastructure spending and cutting regulations.