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Last updateThu, 21 Sep 2017 5pm

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Manufacturing & The Economy

Third Quarter GDP Forecast Down Due to Storms

“The combined destruction of property from hurricanes Irma and Harvey could range from $150 billion to $200 billion, according to a preliminary estimate from Moody's Analytics.”

CNBC reports that “the U.S. economy could suffer an additional $20 billion to $30 billion in lost economic output from the two storms. As a result, Moody's shaved its third quarter forecast for gross domestic product by half a point to 2.5%.” 

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