HURRICANES IRMA AND HARVEY CAUSE GOLDMAN SACHS TO SLASH ITS OUTLOOK FOR THE US ECONOMY

Goldman Sachs has cut its third-quarter GDP forecast following a pair of catastrophic Hurricanes. The firm now sees GDP expanding by 2% during the period, down 0.8 percentage points from its previous forecast. Goldman currently estimates that Hurricane Irma will result in $30 billion in total losses, adding to the $85 billion of damage already caused by Hurricane Harvey, which rocked the city of Houston last month. "The uncertainty around all ...

BusinessInsider (Date:09/17/2017 16:05) Read full article >>

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