Eleven Economic Reports Delayed Due to Gov't Shutdown: Do We Even Need Them?

-edited

Housing starts, retail sales, and business inventory reports are MIA this week. 8 prior reports are also missing.

Government workers failed to produce at least three economic reports this week alone due to the shutdown. Other reports went missing in action last week.

Economic Reports Not Produced

  1. New Home Sales: Dec 27
  2. Advance Retail Inventories: Dec 28
  3. Advance Wholesale Inventories: Dec 28
  4. Advance Trade: Dec 28
  5. Construction Spending: Jan 3
  6. Factory Orders: Jan 7
  7. International Trade: Jan 8
  8. Wholesale Trade: Jan 10
  9. Retail Sales: Jan 16
  10. Business Inventories: Jan 16
  11. Housing Starts: Jan 17

Do we really need government employees compiling these reports or is this something private industry should do?

Mike "Mish" Shedlock

Comments (11)
No. 1-7
Carl_R
Carl_R

And, this is why I am surprised that the shutdown has lasted this long. People have started realizing that much of what government does isn't really needed.

Ted R
Ted R

And who even knows how accurate these government reports are anyway?

frozeninthenorth
frozeninthenorth

The issue is what report is needed and which report is not needed. I presume that if the reports were produced by private enterprise they would be sold -- and no longer public. It is difficult to make investment decision when basic information is not available.

Stuki
Stuki

Reporting on arbitrary nonsense, for no purpose whatsoever beyond attempting to sucker the dim into believing government, and"investors," can, and should, manage something none of them will ever even begin to understand, isn't exactly one of a proper government's enumerated powers, as outlined by The Founders, to put it that way.

Six000mileyear
Six000mileyear

Redfin provided December real estate report. About 25% of new new home have had their prices slashed compared with about 18% in December '17. In general price is rising more slowly, but volume is declining. This is classic topping behavior.

pgp
pgp

... because "private" corporate run statistical analyses would be so much less prone to corruption than the government issued propaganda.

Maybe the problem isn't who does the reports but how effective the rule-of-law is in guaranteeing honesty. If the supreme judiciary is appointed by the state, which is propped up by corporate America, then by definition the political system is closer to an autocracy.

Artemus
Artemus

Nearly $90 million for Trump golf trips as of 12/1/18. Glad we're cutting costs somewhere.