The growth of the U.S. economy at the end of 2017 exceeded the original estimate

According to the Ministry of trade, this is partly due to increased consumer spending

The pace of U.S. economic growth in the last quarter of 2017 came in slightly above initial estimates and amounted to 2.9 per cent in annual terms.

According to published on Wednesday, the Commerce Department report that the improved performance is partly due to increased consumer spending. Adjustment of indicators is a routine practice associated with the emergence of more complete data.

The US economy has for several consecutive quarters shows a steady growth in 2017, it grew by 2.3 percent, which is significantly more than the previous year.

Some economists have revised their growth forecasts for the year 2018 after large-scale reductions in taxes and the announcement of plans to increase government spending over the next two years.

Stimulate growth by reducing taxes and increasing costs against the background of good performance in the labor market raises some concerns about inflation, therefore, as expected, the Federal reserve will continue raising interest rates. The fed is trying to prevent bad for the economy too abrupt or too rapid inflation by raising interest rates, which retards economic activity.