The government shutdown cost the economy $11 billion, including a permanent $3 billion loss, Congressional Budget Office says

• The federal government shutdown cost the economy $11 billion, according to a new analysis from the nonpartisan Congressional Budget Office.

 

• Although most of the damage to the economy will be reversed as federal workers return to their jobs, the CBO estimated $3 billion in economic activity is permanently lost.

 

• Overall, the CBO projected economic growth will slow this year to 2.3 percent, compared with the 3.1 percent rate last year, as the benefits of the new tax law begin to fade.

 

(Source: CNBC)