Houston Economy Was on Steady Climb, Then Harvey Arrived

Storm's impact on America's fourth-largest city won't be known for a while

Houston’s economy has had some spring in its step thanks to a recovery in oil production after a more than year-long slump. Now, the nation’s fourth-largest city faces a new and more daunting challenge: rebounding from an epic storm named Harvey. The economic toll of Harvey, which made landfall south of Houston as a category 4 hurricane, won’t be known for a while but it’s likely to crimp one key metric, the Houston Business-Cycle Index, which has expanded an annualized 3.2 percent so far this year, according to the Dallas Fed.

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