US economic growth revised higher in the 4th quarter on stronger consumer spending

US gross domestic product was revised up to a 2.9% annualized rate from 2.5%, led by an upgrade to consumer spending.
The final quarter of 2017 marked the third quarter in a row with GDP close to or exceeding 3%, the pace the Trump administration set as a target for the economy.Several forecasters have downgraded their GDP estimates for the first quarter of 2018, though Q1 growth tends to be the slowest of the year.
The US economy grew faster than previously estimated in the final quarter of 201