Lack of Government Data Could Also Squeeze Economy
Another consequence of the shutdown that could be a speed bump for the economy is the lack of data, which is essential for business leaders and operators, investors and others to make decisions.
According to the Pew Research Center, which issued an analysis of the data consequences of the shutdown:
The Bureau of Labor Statistics has gone mostly dark. It does not plan to issue regular reports on unemployment, job openings, layoffs and export price indices. The bureau still intends to issue reports on inflation.
The Census Bureau will go completely dark. During the shutdown, do not expect data on factory orders, the US trade deficit, inventories or retail sales.
The Bureau of Economic analysis, which releases data on the gross domestic product (GDP), also has shut down, although its report is not expected until later in October.
Other departments that issue data on which the economy relies for decision making and which plan to be closed for the duration: the Agriculture Department, the Centers for Disease Control, along with its National Center for Health Statistics.
While many remained hopeful the shutdown would not last long, if it does remain shut down, Pew is updating the list of reports that will and will not be forthcoming at http://tinyurl.com/datashutdown
Published Date : 10/16/2013