Government shutdown ‘will cost US economy £1.2 billion if it lasts until weekend’

The US economy will take a billion-dollar hit if the government shutdown continues until the weekend, experts have predicted as Donald Trump showed no sign of backing down. 

Some 25 per cent of the federal government is without funding after the US Congress and the president failed to approve a new spending package. 

Standard & Poor’s, the credit rating firm, estimated that the shutdown would shave $1.2 billion off America’s gross domestic product [GDP] every week it went on. 

The shutdown begun at midnight on Friday and shows little sign of ending as the one-week mark approaches. The departments of Homeland Security, Justice and Transportation are among those impacted. 

Some 800,000 government…

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