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S&P: The Shutdown Took $24 Billion Out Of The US Economy

Steven PerlbergOct 17, 2013, 01:48 IST

The S&P has cut the annualized U.S. growth view closer to 2% from 3%, Bloomberg is reporting.

The ratings agency - which recognizes the Senate deal will be approved - says that the shutdown has taken $24 billion out of the economy and cut 0.6% off of yearly fourth quarter GDP growth.

S&P also said the impact of the debt ceiling is getting worse by the day for the U.S. economy, Bloomberg reports.

More to come.