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Investments / The Ticker

Government shutdown costs continue to accumulate

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Now that the government is open again, an article in CNBC notes that all of the collateral damage is not looking too attractive.

The loss of government services during the three-week shutdown will take a roughly $3.1 billion bite out of gross domestic product, according to economists at IHS Global Insight.

That represents the hit from lost government services. The shutdown also forced non-government business losses, temporary layoffs and other interruptions in business spending. The full extent of the damage won't be known for some time. Economists at Standard & Poor's estimate the total cost at about $24 billion, or a 0.6 percent GDP haircut. Others estimate about half that.

Source: CNBC
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