But lost economic output was just $8.5 billion, a barely perceptible sliver of more than $19 trillion of national economic output, according to Moody’s. For the U.S. economy as a whole, output grew at a healthy 2.8% rate in the quarter when Harvey hit Texas. Studies show that business might slow down during and immediately after storms hit. When Katrina hit New Orleans, the broader economy grew at a robust 3.6% annual rate, one of the best quarters in the last expansion. That led to a surge in measures of overall economic output and then a slowdown.

Source: Wall Street Journal September 15, 2018 15:56 UTC