Economics
These Are the Data Points That Will Show Harvey’s Economic Impact
- Jobless claims, payrolls and industrial production will wiggle
- Temporary hits should lead to payback later, if pattern holds
Hurricane Harvey’s Impact to GDP May Be Limited
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Days of torrential downpours and widespread flooding along Texas’ Gulf Coast courtesy of Harvey will soon take on another formation -- several months of unsettled national economic data.
While the hit to U.S. growth from natural disasters is limited due to the sheer size of the American economy, major weather events have typically led to significant swings in monthly data on employment, manufacturing and car sales.