Zincwarrior
Diamond Member
Trump Admin just announced its scrapping the 3rd Qtr GDP report. This leads to speculation the 3rd Qtr was shitty and they don't want it released. I am sure its completely on the up and up. Its not like he's going away saying political opponents should be imprisoned or anything.
The department said the release was being canceled due to disruption caused by the federal government shutdown, but the announcement has sparked criticism and speculation that the report is being held because of disappointing data.
Why It Matters
The GDP report becomes the latest government data to be delayed because of the lingering impacts of the federal government shutdown, following other missed releases such as the October jobs report.
The data delays are fueling speculation about the true state of the economy, at a time when President Donald Trump continues to highlight strong growth while concerns over affordability and unemployment persist.
The BEA also rescheduled the release of its September inflation data, and the Bureau of Labor Statistics will not release October jobs and Consumer Price Index data because of issues with compiling data.
Critics have speculated that the GDP report is being withheld to conceal weak economic performance.
Trump canceling GDP report comes under scrutiny
The U.S. Bureau of Economic Analysis said on Monday that it has canceled the release of its advance estimate of third-quarter GDP.The department said the release was being canceled due to disruption caused by the federal government shutdown, but the announcement has sparked criticism and speculation that the report is being held because of disappointing data.
Why It Matters
The GDP report becomes the latest government data to be delayed because of the lingering impacts of the federal government shutdown, following other missed releases such as the October jobs report.
The data delays are fueling speculation about the true state of the economy, at a time when President Donald Trump continues to highlight strong growth while concerns over affordability and unemployment persist.
What To Know
The advance estimate for third-quarter GDP, which was originally scheduled for October 30, has no new release date.The BEA also rescheduled the release of its September inflation data, and the Bureau of Labor Statistics will not release October jobs and Consumer Price Index data because of issues with compiling data.
Critics have speculated that the GDP report is being withheld to conceal weak economic performance.