Shutdown not all bad for business
While a shutdown, even for just one week, is expected to reduce fourth quarter growth and, if prolonged, lower consumer confidence, federal workers may not be feeling the pinch yet. Instead, they seem to be catching up on some of the D.C. experiences they can’t enjoy in the office.
On the eve of the government shutdown, Netflix’s stock soared, noted Wonkblog’s Lydia DePillis. When they’re not catching up on “West Wing,” furloughed federal workers may be biking. Capital Bikeshare experienced two of its busiest days on the first two days of the shutdown, with 10,393 rides on Wednesday.
And plenty of restaurants may be luring new business by giving free food and drinks to those 800,000 furloughed employees, especially since several of them require making a purchase to get the giveaway.