Summary
The U.S. government shutdown has halted economic data releases, prompting companies and investors to find alternative ways to measure the economy. Businesses and policymakers rely on these figures for making important decisions. In response, private firms and organizations have begun using various creative methods to track economic activity.
Key Facts
- The U.S. government shutdown has paused most data releases from the Bureau of Labor Statistics (BLS).
- Businesses use government economic data to make decisions regarding hiring, pricing, and sales.
- Policymakers need economic data to decide on things like unemployment benefits and Social Security raises.
- Private firms, like Apollo Global Management, have released reports using data from restaurant bookings and hotel stays to gauge consumer spending.
- Alternative job market data are available from job listing sites like Indeed and payroll company ADP.
- There has been increased interest in private data firms, like Morning Consult, for economic information during the shutdown.
- The BLS considers some data, like the Consumer Price Index, too vital to delay and plans to release it despite the shutdown.
