January 22, 2018 / 3:49 PM / 7 months ago

U.S. shutdown would pose 'small' drag on GDP: Morgan Stanley

NEW YORK (Reuters) - The U.S. government shutdown, which was in its third day, would be a “relatively small” drag on the U.S. economic expansion in the first quarter, but the effects depend on how long it lasts, Morgan Stanley’s analysts said on Monday.

Congressional staffers wait in an excessively long line to enter the Dirksen Senate office building during the third day of a shut down of the federal government in Washington, U.S., January 22, 2018. REUTERS/Joshua Roberts

Each week of the shutdown would subtract up to 0.2 percentage point from the annualized quarterly growth rate of the gross domestic product, Morgan Stanley economist Ellen Zentner and strategist Michael Zezas wrote in a research note.

Reporting by Richard Leong; Editing by Jeffrey Benkoe

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