Citi Banking Corporation comments on the impact of Hurricane Harvey

30 Aug 2017 12:03 PM

Citi's comments on the impact of Hurricane Harvey on the economy were as follows:
•    The hurricane may cause US GDP to slow in Q3 of 2017by about 0.1%, and may be slightly boosted during the Q4 of the same year and un the Q1 of 2018.
•    Rising gasoline prices may push the headline US inflation to rise during September, but unlikely to lead a rise in overall inflation.
•    Relief spending after Hurricane Harvey saw another variant in the congressional budget, as well as debt ceiling negotiations.

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