By Brandon Brown | Cronkite News
The federal government shutdown last month could shave 0.3 percent off the expected growth of Arizona’s gross state product in the fourth quarter of this year, according to a recent report.
The analysis by Moody’s Analytics said that could translate into a loss of $203 million in the gross state product for the quarter, as federal spending was cut back and the state’s defense and tourism industries took a hit.
While Arizona’s gross state product was hit harder than those of many other states, an official with Moody’s said he expects that Arizona will bounce back relatively quickly.
“Arizona is in a better shape to weather the hit,” said Steve Cochrane, an economist and managing director at Moody’s Analytics.
