No GDP data released as US shutdown bites / Photo: DANIEL HEUER - AFP/File
-
RSC’s ‘Julius Caesar’ Reimagined in Women’s Prison Setting for School Tour
-
Rock & Roll Hall of Fame Inductees Announced; Attendance List Shrinks
-
Thomson Reuters Integrates CUBE Regulatory Intelligence into CoCounsel Legal
-
Below Deck alumnus João Franco and brother arrested after fatal Turkey fight
-
Ole Miss inquiry expands after video and monkey-noise allegations
-
Thousands of Urban Homes Left Without High-Speed Internet Due to Broadband Blackspots
-
General Hospital actor Randall England dies at 75
-
Bunnie XO artwork taken down from Jelly Roll’s Nashville bar
-
London museum removes Russell Brand hair exhibit after rape conviction
-
Arlington sentinel rebukes Pete Hegseth entourage for laughter near memorial
-
Yella Beezy sentenced to life for arranging rapper Mo3’s murder
-
Kylie Jenner employee describes closet ordeal and pepper-spray incident
-
Authorities to identify Montauk Mary and five other Long Island cold-case victims
-
Davante Adams injury deepens Los Angeles Rams receiver shortage
-
Barbie sequel negotiations stall over reported $25 million pay packages
-
João Franco’s earlier post draws attention after arrest over fatal Turkey brawl
-
Bath & Body Works launches buy-one-get-one-free candle offer
-
Alberta Launches $5M Fund for Women’s Neurology Research to Address Gender Gaps
-
Itlu Arjuna receives U/A certificate ahead of theatrical release
-
Dhananjaya de Silva guides Sri Lanka to 221-4 against Pakistan
-
Niraj Kumar earns Los Angeles Olympic quota with 50m rifle bronze
-
Delhi gold loses Rs 800 while silver falls Rs 5,000
-
India extends micro-credit guarantee plan for five years
-
Madlanga Commission Deadline Extended to 2027 Amid Calls for Structural Justice Reform
-
Pradeep Antony, Smeha Manimegalai portray secret spouses in Mr & Mrs Office
-
Zelenskyy arrives in Dublin for meetings on Ukraine and peace efforts
-
Woman barred from every Greggs outlet after series of offences
-
Jury hears social-media image helped identify teen in Scarlett Faulkner case
-
Ketchup packets link suspect to break-in at Eddie Rocket’s restaurant
-
American Airlines passenger falls ill and vomits on three travellers
-
OPEC Says Oil Output Is Near Prewar Levels Despite Shipping Disruptions
-
US Inflation Broadens as Fed Officials Consider Faster Rate Hikes
-
China's Singles' Day Exposes Persistent Consumer Caution
-
China's Trade Surplus Passes $1 Trillion as Technology Exports Surge
-
Energy Costs Push OECD Inflation Up to 4.5%
-
Bank of England Raises Interest Rate to 4% as Energy Risks Intensify
-
US Adds 165,000 Jobs as Unemployment Falls to 4.1%
-
China's Factory Inflation Accelerates While Consumer Demand Stays Weak
-
Euro-Area Inflation Reaches 4% as Energy Prices Jump
-
Spain's General Strike Links Housing Crisis to Lost Purchasing Power
-
Irish police prepare for further hoax bomb threats after hundreds of schools targeted
-
Korea, Singapore and New Zealand Advance Green Trade Pact Talks
-
RBA Inflation Target Origins: Why Australia Chose a Range Over Zero
-
Ireland and Ukraine consider drone cooperation memorandum after Dublin talks
-
Sister recounts fatal machete attack as Irish murder trial continues
-
Georgia refrigeration company sues EPA after five-year HFC reprieve
-
HoloCoder technology promises brighter smartphone images and 3D depth data
-
EU proposes broad consumer safeguards for apps, subscriptions and ticketing
No GDP data released as US shutdown bites
A US federal data blackout deepened Thursday as a government shutdown halted the release of third quarter GDP figures, forcing policymakers, financial institutions and business owners to continue flying blind.
The world's biggest economy has already delayed reports on employment, trade, retail sales and others, only recalling some furloughed staff to produce key inflation figures needed for the government to calculate Social Security payments.
On Thursday, the shutdown entered its 30th day, with Republicans and Democrats still at an impasse.
Each assigns blame to the other side over the stoppage, with no quick solution in sight and food aid for millions now at stake.
While there were no official gross domestic product (GDP) numbers published on Thursday, economists surveyed by Dow Jones Newswires and The Wall Street Journal expected GDP growth of 2.8 percent in the July to September period.
This would be a cooling from second quarter economic growth of 3.8 percent.
The Federal Reserve Bank of Atlanta's GDPNow indicator -- a running estimate of real GDP growth based on available data -- pegs the figure at 3.9 percent.
But the ongoing information blackout means that companies and officials will have to wait to find out.
Experts warn that businesses could lower hiring and investment.
"This is the time of year where most organizations are finalizing their budgets for 2026," said Heather Long, chief economist at Navy Federal Credit Union.
"So, almost any company is sitting there thinking: Do we think 2026 is going to be an uptick? Or a slowdown, or a recession?" she told AFP.
She added that industries are also trying to gauge if the Fed will keep cutting interest rates, a decision that depends on inflation and the jobs market, which has been weakening.
The nonpartisan Congressional Budget Office estimates the shutdown could cost the economy up to $14 billion.
Matthew Martin of Oxford Economics added that business would likely "reduce their overall hiring to be on the safe side," until they see data pointing to rising demand or a stabilization in the economy.
If the government shutdown lasts through mid-November, as predictions markets expect, most delayed data releases will still be unlikely to come out until December, Goldman Sachs said in a recent note.
Such delays could distort October and November numbers.
Long warned that October's data could also be lost if the shutdown persists for too long -- as it might not be collected.
J.Oliveira--AMWN