US could lose between $7bn and $14bn during shutdown, budget office says

Federal agency also estimates country's GDP will reduce by one to two percentage points over shrinking demand

The US is set to lose between $7bn and $14bn as a result of the ongoing federal government shutdown, according to the congressional budget office.

On Wednesday, the nonpartisan federal agency released its estimates in a new report to the House budget committee as the government shutdown reaches four weeks.