US | Texas’ deep freeze won’t chill the national economy

Infrastructure outages from the mid-February winter storm caused massive disruptions to life in Texas, but damage to the US economy won’t be severe or long-lasting. 

What you will learn:

• We estimate the storm could shave 0.3ppts from annualized US GDP growth in Q1, while Texas’ growth could slow by nearly 3ppts. 
• Downturns in Texas’ oil extraction, refining, and petrochemicals industries are of most consequence to the national economy. The storm could trim 0.6ppts from quarterly industrial production growth in Q1.