S&P hikes its outlook for US GDP growth this year to 2.8% (from 2.6%)

The ratings agency citing the new tax package for its expectation of higher growth in 2018 than it had previously forecast

• For 2018 its expects GDP growth at 2.8%, the firm had previously predicted 2.6%
• For 2019 it expects slower though, at 2.2%

S&P says it does not see the new package leading to a meaningful rise if the longer run potential for the economy, but boosts its short term expectations.