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.