Industrial Output Is Depressed by Katrina

[tex-wyo-dem]

By MARTIN CRUTSINGER, AP Economics Writer 1 hour, 22 minutes ago

WASHINGTON - Industrial output rose only slightly in August as Hurricane Katrina severely cut back production of petroleum and chemicals along the Gulf Coast.

The Federal Reserve reported Wednesday that industrial output rose a tiny 0.1 percent last month — far below economists' expectations — as Katrina, which struck the Gulf Coast on Aug. 28, forced sharp cutbacks in oil and natural gas extraction in the Gulf of Mexico and also depressed output at refineries and chemical plants in the areas hit by the hurricane.

Without the adverse effects of the hurricane, industrial output would have been 0.3 percentage point higher, the Fed estimated.

A second report on retail sales showed that the economy was weakening even before Katrina struck.

<snip>

http://news.yahoo.com/s/ap/20050914/ap_on_bi_go_ec_fi/economy_30

[Bob3]

1. So what happened to all those happy talk stories

right after Katrina hit saying the long term economic effect of Katrina as the damage to the refineries was not as great as first feared? Oh - they were bullshit? Okay I understand now.

[tex-wyo-dem]

2. I remember *'s statement right after Katrina hit...

saying that econominc impact due to the hurricane would be minor and short term. I'm trying to find it, but, as usual, he was full of shit.

[kipco]

3. panics

They were probably trying to avoid panic. I know there were people freaking out left and right running out filling up their gas tanks because they thought all the gas was suddenly going to run out. It's not like they ever thought conservation might be a good idea or anything....

[CountAllVotes]

4. * did not want to say "Welcome to the new Depression 2005"

and that is where we are right now and it is going to get much worse thanks to these thugs!

IMPEACH NOW!

:kick:

[Sabriel]

5. Strangely enough, my output is also depressed by Katrina

I've been finding it difficult to take an interest in anything since it hit, because of depression. Can I apply for federal assistance for my "industry"?

[July]

6. When was production cut back?

Katrina was in the Gulf when, the last few days of August? So production for almost 4 weeks rose by .1 percent because it was curtailed for a few days?