Investors are beginning to worry about the partial government shutdown.
Analysts have begun to warn that the shutdown could begin to have a negative economic impact that poses to be a drag on the market.
The White House predicts that the shutdown will cut the first-quarter GDP by 0.5 percentage points if it lasts through January – doubling recent estimates.
In addition to the adverse impact on the market, 10 key government data releases have been postponed, depriving traders, economists and policymakers of the figures needed to analyze housing, trade, and consumer spending.
Gregory Daco, the chief U.S. economist at Oxford Economics, says that even when the government reopens, it will likely take months to reconfigure the data that wasn’t implemented.
Steven Blitz, the chief U.S. economist at TS Lombard, cited New York Federal Reserve Bank data and said, “…the government shutdown looks like the third in a series of a policy missteps that have undermined the expansion and pushed the probability of a recession to the highest level since early 2007.”
With so many economists sitting on the edge of their seats, it’s time for a resolution to be settled in the White House.
However, it’s unlikely that Democrats will budge on their refusal to provide President Trump with the $5.3 billion dollars he needs for border security.
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