August 30, 2017 / 5:38 PM / 21 days ago

A U.S. shutdown could cut into 4th-quarter GDP growth -S&P

NEW YORK, Aug 30 (Reuters) - A U.S. government shutdown, if it were to start at the start of the fourth quarter, would subtract 0.2 percentage point or at least $6.5 billion from gross domestic product each week it drags on, Standard & Poor’s U.S. chief economist Beth Ann Bovino said on Wednesday.

The likelihood of a federal shutdown in late September remains “slim” with the fallout from Harvey, the most powerful storm to hit Texas in over 50 years reducing the chances further, Bovino wrote in a report titled “With A Shutdown, There Will Be Blood.” (Reporting by Richard Leong; Editing by James Dalgleish)

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