CBO estimated the impact of the “shutdown” on the economy of $11 billion in December-January
Moscow. 29 Jan. INTERFAX.RU — the damage to the U.S. economy from the partial suspension of work of Federal institutions (“shutdown”) will be approximately $11 billion in December and January, according to the calculations of the congressional Budget office (CBO).
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This is potentially the reason that the rise of GDP by the end of 2018 will not be able to reach 3%. The last time the American economy has shown growth rates above 3% in 2005, says MarketWatch.
The work of state bodies of the USA partially suspended from 22 December 2018 due to disagreements about funding the construction of the wall on the border with Mexico.
On the assessment of the CBO, 35-day “shutdown” will reduce GDP growth by 0.1 percentage point ($3 billion) in the fourth quarter of last year and by 0.2 percentage points ($8 billion) in the first quarter of this year. However, most of the lost economic activity is likely to be recovered in future quarters.
The shutdown of the Federal agencies has led to the fact that wages are not receive about 800 thousand civil servants. In addition, without work remained private gospodarczyk.
US GDP in the first quarter of 2018 increased by 2.2% in the second quarter by 4.2% in the third quarter and 3.4 percent. Currently, analysts predict that in the October-December rise was 2.6%. If it is justified, at year-end level of 3% is reached.
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