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Economy

US government shutdown to crimp growth, recession risk steady

Updated : January 24, 2019 06:19 AM IST

The probability of a US recession in the next 12 months held steady from last month at 20 percent, according to the median forecast, while the chance of a recession in the next two years was also steady at a median 40 percent.
The partial government shutdown affecting 800,000 federal workers has lasted more than a month and is expected to hurt the already-slowing economy.
A deep sell-off in financial markets last month drove several US stock indexes closer to bear market territory, and pushed expectations for the Fed to slow the pace of its rate hikes.
US government shutdown to crimp growth, recession risk steady

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