Harvey seen posing small drag on Q3 US GDP

August 29, 2017


Harvey, which is on track to be one of the costliest U.S. storms, would reduce U.S. economic growth by a small 0.1 percentage point in the third quarter, Citi economists said on Tuesday.

Rebuilding efforts and other spending to provide emergency relief in the aftermath of the storm would result in a modest uptick in business activity in the fourth quarter and the first three months of 2018, they wrote in a research note.