US growth in Q4 revised down a notch

WASHINGTON: The world’s largest economy grew more slowly at the end of 2017 than first reported, with lower sales of durable goods and consumer items, official data showed Wednesday.

The downward revision underscored the modest result for GDP growth over all of 2017 but did not reflect the expected boost from the sweeping $1.5 trillion tax cuts enacted at the end of December, which economists say will juice economic performance in the near-term.