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Losses for US Economy Tops $1B as Shutdown Continues

Business News

0  Updated at 5:33 am, October 4th, 2013 By:
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(NEW YORK) — As the government shutdown enters its fourth day, estimated losses for the U.S. economy have now topped $1.2 billion, according to predictions from economic consulting firm IHS Global Insight.

While politicians spar over details on Friday, investors will be forced to trade without the use of the September jobs report, which was set to be released Friday morning, but has now been delayed while the Labor Department is furloughed.

The IHS predicts that a week-long shutdown could cost the economy as much as a .2 percentage drop in fourth quarter growth.

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