Shutdown won't stop key jobs report or CPI, but other data could be impacted

  • The partial government shutdown will impact the release of some key market-moving data.
  • Reports on nonfarm payrolls and inflation likely will come out on time, but others, including housing, could be delayed.

The partial government shutdown will have some impact on the release of market-moving economic data, though the biggest reports likely won't be affected.

Most prominently, the Bureau of Labor Statistics still plans on releasing the critical nonfarm payrolls report Jan. 4. Likewise, the Labor Department's weekly jobless claims data also will be released, according to a government announcement Tuesday. The consumer price index also likely will come out on schedule.

Other releases, though, could be delayed should the shutdown continue.

Specifically, that includes data from the Census Bureau and Bureau of Economic Analysis on new home sales, the trade balance and wholesale inventories. Should the shutdown extend through January, it also will impact durable goods orders, retail sales and the first reading of fourth-quarter GDP, according to Citigroup economist Andrew Hollenhorst.

Treasury auctions likely will go off as scheduled as "these operations will be characterized as 'essential' and allowed to continue," he added.

Hollenhorst estimated the shutdown will have a "limited" economic effect as the 380,000 furloughed workers could get paid later through an act of Congress and the 420,000 employees working without pay also will get reimbursed later.