The government shutdown meant GDP statistics were released on schedule, leaving policymakers without timely insights.
summary
- Initial third-quarter U.S. GDP estimates have been delayed, and the BEA has not given a firm timeline for release due to the government shutdown.
- BEA’s second GDP estimates and September personal income and expenditures report have been postponed, with some data expected to be released by December 5.
- Delays deprive policymakers, investors and markets of important economic growth information, which can affect decision-making.
The U.S. Bureau of Economic Analysis announced Monday that its initial forecast for third-quarter gross domestic product (GDP), originally scheduled for Oct. 30, will be delayed and not released due to the advance government shutdown.
The agency did not provide a specific timetable for releasing its initial estimates, but said it would resume its reporting schedule at a later date with updated estimates, which have not yet been scheduled, according to the Wall Street Journal.
U.S. Bureau of Economic Analysis releases GDP estimates later than expected
BEA typically releases three consecutive GDP estimates each quarter to provide a comprehensive view of economic activity. Officials indicated that a second estimate scheduled for Wednesday was also likely to be postponed.
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In this regard, BEA has reassigned the release date of the September Personal Income and Expenditure Report, which includes the Personal Consumption Expenditure Price Index, the Federal Reserve’s recommended inflation measure. The report, originally scheduled for October 31, is now scheduled to be released on December 5, the agency said.
Initial GDP data serves as a key indicator of economic growth trends in the United States, especially after the disruption caused by the government shutdown. This delay creates a gap in timely data that informs policy makers, investors, and market participants.
The agency has not provided additional guidance on whether further adjustments to the release schedule are necessary.
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