Economics
U.S. Will Fail to Release Key Economic Report at Critical Moment
- Report on retail-sales data, due Wednesday, will be delayed
- Extended shutdown would also delay personal-spending report
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The U.S. growth outlook hangs more than ever on American consumers’ resilience amid stock-market swoons and trade-war tensions, but key data on their spending -- the biggest part of the economy -- will be missing due to the government shutdown.
Was it a gangbusters Christmas shopping season as forecasts and anecdotal evidence suggested? Were consumers making big discretionary purchases in addition to essential spending as they entered 2019, even as some surveys showed confidence was waning? The answers will have to wait, as December retail sales won’t be released as scheduled Wednesday while the Commerce Department remains closed. Failure to reopen soon also would delay personal income and spending data, due Jan. 31.