February 6, 2019 / 7:26 PM / 6 months ago

U.S. Commerce Department releases new dates for fourth-quarter GDP, other reports

WASHINGTON (Reuters) - The U.S. Commerce Department’s Bureau of Economic Analysis said on Wednesday it would publish its advance fourth-quarter gross domestic product report on Feb. 28.

FILE PHOTO - A fence surrounds the U.S. Department of Commerce in Washington October 5, 2013, as the government shutdown continues into the weekend. Washington entered the fifth day of a partial government shutdown on Saturday with no end in sight even as another, more serious conflict over raising the nation's borrowing authority started heating up. REUTERS/Mike Theiler

The release of the report was initially scheduled for Jan. 30, but was delayed because of the 35-day partial shutdown of the federal government that ended on Jan. 25. The report will include some of the data that would normally go into the second GDP estimate, the Bureau of Economic Analysis said.

“This will include source data that would have gone into producing BEA’s advance estimate of fourth quarter and annual GDP for 2018, and some – but not all – of the source data that typically feed the second estimate,” the agency said.

The BEA normally publishes three estimates of GDP for a given quarter, with each estimate incorporating more complete source data as it becomes available.

“This cycle will be compressed to two estimates for the fourth quarter and annual estimates of 2018,” the agency said. “The other fourth-quarter estimate remains scheduled for March 28.”

Reports compiled by the Commerce Department agencies, including the Census Bureau, were suspended during the government shutdown, which ended on Jan. 25.

The agency also said it would release the personal income and consumer spending report for December as well as personal income data for January on March 1, though estimates for consumer spending and the personal saving rate for January will not be available at that time.

The December personal income and consumer spending report was scheduled originally for release on Jan. 31. The BEA said December’s trade report will be published on March 6. That report was originally scheduled for Feb. 5.

Separately, the Census Bureau announced new release dates for some of the source data for fourth-quarter GDP. December’s retail sales report will be published on Feb. 14. It was initially slated for Jan. 16.

The durable goods report for December will be released on Feb. 21 and housing starts data for the same month will be out on Feb. 26. They were originally set to be published on Jan. 25 and Jan. 17, respectively. Census also said December new home sales data will be released on March 5 and the report on December construction spending on March 4.

It will publish its December advance economic indicators and December factory orders data on Feb. 27. December business inventories will be released on March 11. The quarterly services survey for the October-December period will be published on March 21.

Reporting by Lucia Mutikani; Editing by Lisa Shumaker, Leslie Adler and Andrea Ricci

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