Summary
The U.S. Bureau of Economic Analysis canceled the release of the advance estimate for the third-quarter GDP due to the federal government shutdown. This decision led to criticism and speculation about possible weak economic data. The cancellation has added to concerns over the true state of the U.S. economy, as other important economic reports were also delayed.
Key Facts
- The GDP report was originally set for release on October 30 but is now postponed with no new date.
- The release was canceled because of the federal government shutdown.
- Other economic reports, like the September inflation data and October jobs data, are also delayed.
- Critics believe the delay might be to hide weak economic performance.
- President Trump has been highlighting strong economic growth despite these delays.
- Some experts suggest third-quarter growth might still be strong, based on models like the Atlanta Fed’s GDPNow.
- Federal Reserve Chair Jay Powell mentioned that the lack of data could affect policy decisions.
