An imminent U.S. government shutdown that threatens to delay the publication of key economic data is set to test policymakers¡¯ and investors¡¯ trust in a range of less-regarded third-party indicators.
Without critical figures like the Labor Department¡¯s monthly employment report and a key inflation gauge from the Commerce Department, data from private-sector sources will take the spotlight. New trackers of job openings and economic activity have emerged in recent years, and well-established ones have reinvented themselves to better answer ongoing questions about the economy.
Some of these indicators ¡ª including gauges of business activity from the Institute for Supply Management, private payrolls from ADP Research Institute and existing-home sales from the National Association of Realtors ¡ª have informed Federal Reserve officials in their quest to tame the worst inflation in a generation. Others do so indirectly by feeding into government reports.
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