What have you always wondered about the economy? Tell Us

The impact of recent hurricanes will play out in the economic data

Mitchell Hartman Sep 18, 2017
HTML EMBED:
COPY

The impact of recent hurricanes will play out in the economic data

Mitchell Hartman Sep 18, 2017
HTML EMBED:
COPY

Some economic stats released in recent weeks have — hidden within them — hurricane disruption devastation stats. Industrial production was down 0.9 percent in August — a lot of that due to Hurricane Harvey hitting Houston, with its huge oil and gas refineries and chemical factories. Utility use was down — people didn’t have electricity for a while in the Houston area and across the State of Florida. Retail sales in August were also lower than originally expected — fewer autos were sold, because who’s new car shopping during a hurricane?  On the other hand, the value of gasoline sales rose, with the price spiking 0.25 to 0.30 cents per gallon, again, because of Harvey. And Hurricane Irma’s impact hasn’t shown up yet in the monthly data released thus far — but certainly will for September and October.

Click the audio player above to hear the full story.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.