Business

The government shutdown's toll by the numbers

National GovernmentPoliticsEconomy, Business and FinanceUnemployment and LayoffsJobs and WorkplaceMarketingNational Parks

The first government shutdown in nearly 20 years ended late Wednesday after Congress agreed on a deal to fund the government through Jan. 15. and raise the nation's debt limit through Feb. 7. The 16-day ordeal took a toll on the national economy, economists said. 

Here's a by-the-numbers breakdown of the effects:

$24 billion: That's the overall impact to the U.S. economy, according to an estimate by Standard & Poor's. 

2.4%: That's the new projection for annualized growth of the nation's gross domestic product in the fourth quarter, Standard & Poor's said Wednesday. Before the shutdown, the firm estimated annualized growth would be about 3%. 

QUIZ: Test your knowledge about the debt limit

$152 million: The amount lost per day in travel spending, according to the U.S. Travel Assn.

$76 million: The amount lost in daily visitor spending in national parks in 12 states, according to the Coalition of National Park Service Retirees.

$160 million: The amount that federal government furloughs cost the economy each workday, according to market research firm IHS Inc.

$737.95: The amount the average consumer will spend this holiday season on gifts, decor and greeting cards, according to the National Retail Federation. That's 2% less than last year, it said. The government shutdown, a survey by the trade group found, caused consumer confidence to fall. 

358,000: The number of initial unemployment claims last week, as reported by the Labor Department on Thursday. The number was skewed by the shutdown, the agency said, as thousands of furloughed government workers applied for unemployment to help tide them over. 

ALSO:

Facebook loosens privacy policy on teens' posts

Government shutdown may crimp holiday shopping

Goldman Sachs slashes expenses; earnings flat at $1.52 billion

ricardo.lopez@latimes.com

Copyright © 2014, Los Angeles Times
Related Content
National GovernmentPoliticsEconomy, Business and FinanceUnemployment and LayoffsJobs and WorkplaceMarketingNational Parks
Comments
Loading