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.
Topics: United States, Industry, US economy, North America, States, Infrastructure
