US Economic Growth May Hit Zero If Shutdown Continues Through First Quarter - White House

Economic growth in the United States could slow to as little 0 percent in the first quarter of 2019 if the partial shutdown of the federal government continues, chairman of the White House Council of Economic Advisers Kevin Hassett said on Wednesday

WASHINGTON (UrduPoint News / Sputnik - 23rd January, 2019) Economic growth in the United States could slow to as little 0 percent in the first quarter of 2019 if the partial shutdown of the Federal government continues, chairman of the White House Council of Economic Advisers Kevin Hassett said on Wednesday.

"If [the shutdown] extended for the whole quarter, and given the fact that the first quarter tends to be low, we could end up with a number close to zero," Hassett said in an interview with CNN.

Though Hassett conceded that the ongoing shutdown would likely take a toll on the US economy, he insisted that growth would return to normal levels once the government reopens.

The US federal government has been partially shut down since December 22 as a result of a dispute over the wall between Trump and Congress. Trump has asked Congress to authorize $5.7 billion to build the wall, but Democrats have refused to meet the demand.