Harvey caused 'broad disruptions' in Gulf Coast economy: Fed

Image
AFP Washington
Last Updated : Sep 07 2017 | 12:13 AM IST
Hurricane Harvey caused "broad disruptions" to economic activity in the US Gulf Coast region, causing gasoline shortages and spiking freight costs, the Federal Reserve said today.
However, it was still too soon to measure the full extent of the impact caused by the storm, according to a periodic Fed survey on economic conditions.
More broadly, the US economy continued to grow at "a modest to moderate pace" during July and August, with tight labor markets but disappointing auto sales, the survey showed.

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Sep 07 2017 | 12:13 AM IST

Next Story