U.S. Bureau Delays GDP Report Following Government Shutdown

Summary:
The U.S. Bureau of Economic Analysis announced the postponement of its initial estimate for the third-quarter GDP, previously set for release on October 30. This decision follows a government shutdown that has affected the timely publication of economic data, crucial for understanding economic trends.

Key Takeaways

The U.S. Bureau of Economic Analysis (BEA) will not release its initial third-quarter GDP estimate on the expected date.
The delay is due to a government shutdown, with no clear reschedule provided.
The second GDP estimate, originally set for Wednesday, is also likely to be postponed.
The release date for the September personal income and spending report has been shifted to December 5.
The initial GDP data is vital for assessing U.S. economic growth, leaving stakeholders awaiting crucial information.

U.S. Bureau delays GDP report after government shutdown - 1

Delayed GDP Estimate and Economic Impact

On Monday, the U.S. Bureau of Economic Analysis (BEA) announced that it would not issue the anticipated initial estimate of the third-quarter gross domestic product (GDP) on October 30, due to the effects of a prior government shutdown. According to the Wall Street Journal, the agency has not set a new date for this initial estimate but plans to provide an update later.

Changes in GDP Reporting Schedule

Normally, the BEA releases three GDP estimates for each quarter, which offer a detailed perspective on economic activity. Officials have indicated that the second estimate, which was supposed to be available this Wednesday, may also face postponement.

In addition, the BEA has modified the publication date for its report on personal income and spending for September, which includes the personal-consumption expenditures price index—the preferred gauge of inflation for the Federal Reserve. This report was initially scheduled to be released on October 31 but is now expected to come out on December 5.

The initial GDP data is essential for gauging trends in U.S. economic growth, especially in light of interruptions caused by the shutdown. The current delay creates uncertainty for policymakers, investors, and market analysts who rely on this information.

The agency has not provided further information regarding any potential future adjustments to its release schedule, leaving many awaiting updates.