Harvey seen posing small drag on Q3 US GDP

Economic IndicatorsReuters

The retailers most hurt by Harvey

Strategic Resource Group Managing Director Burt Flickinger on the retailers facing the most risks from Harvey.

Harvey, which is on track to be one of the costliest U.S. storms, would reduce U.S. economic growth by a small 0.1 percentage point in the third quarter, Citi economists said on Tuesday.

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Rebuilding efforts and other spending to provide emergency relief in the aftermath of the storm would result in a modest uptick in business activity in the fourth quarter and the first three months of 2018, they wrote in a research note.

(Reporting by Richard Leong; Editing by Chizu Nomiyama)

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