PressTV-US government shutdown slowing economic growth: Poll

The longest-ever US government shutdown is damaging the world’s largest economy and will lower growth in the first quarter of 2019, a Reuters poll of economists shows.

When asked how much of an impact the shutdown would have on US GDP for this quarter, the median was for a 0.3 percentage point trim. But forecasts ranged between 0.1 and 1.3 percentage points.

The poll of over 100 economists taken January 16-23 indicates that the US economy is expected to grow at a 2.1 percent annualized pace this quarter, down from 2.3 percent forecast last month.

Economic growth will grow 2.3 percent in the second quarter and then slow to 1.9 percent by the end of the year, the survey shows.

The poll is in line with a recent run of weaker US economic data pointing to rougher sledding for the economy this year than last year.

“If the shutdown were to last for the entire quarter, it could subtract around a full percentage point from Q1 inflation-adjusted…

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