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HURRICANE IMPACT: Signs of slowdown in GDP growth

Published Thursday, October 06, 2005

There is growing evidence that consumers are being rocked by the aftereffects of hurricanes Katrina and Rita. If that is the case, the stage is set for an economic slowdown for months to come. Economists are citing high energy prices and, to a lesser extent, the number of people displaced as the brakes on economic growth. The Bureau of Labor Statistics reported that in August the consumer price index (CPI) on energy rose 5%, leaving the compound annual rate of energy price growth for the three months ending in August at a whopping 38.2%. Hurricane ...

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