[The economy grew at a 4.1 percent annual rate in the last quarter, the government said Friday.] That change had a ripple effect, all the way up to annual economic growth figures, which emerged from the revisions ever so slightly changed from previous estimates. Growth in President Trump’s first year in office, 2017, was actually smaller by the same amount. For example, companies appear to have invested $110 billion more in 2012 than previously thought, largely because the statisticians more or less missed some huge corporate spending on cloud computing technology. Growth in the fourth quarter of 2017 was revised down to 2.3 percent, from 2.9 percent.

Source: New York Times July 27, 2018 12:30 UTC