US economy could lose $15 billion from government shutdown

(CNN) – The Congressional Budget Office is warning the United States economy could lose billions of dollars due to the government shutdown.

A report finds the shutdown will lower GDP growth for the quarter by 1 to 2 percentage points.

Most of the decline will be recovered however depending on how long the shutdown continues, the CBO found the economy could lost up to $15 billion.

The CBO said the decline is the result of fewer services provided by federal workers, less spending on goods and services and lower SNAP benefits.

The agency also said, “The effects of the shutdown on the economy are uncertain.”

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