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Article Excerpt
As vicious Hurricane Katrina wrought death and destruction on communities along the Gulf of Mexico, it too washed away discussion of the Goldilocks economy--remember the one that was not to hot, not too cold, but just right.
Despite the devastation and uncertainty about when the crucial region will be able to regain its oil refining capacity, economists say talk of a recession is premature and instead warned of "disappointingly slow growth" through at least the middle of next year.
"The national economy has shown remarkable resilience through a lot of this stuff, so I don't see a recession. But I see at least six months of considerably slower growth nationally" as the most likely outcome of Katrina, said Nick Perna, economic adviser to Webster Financial Corp.
Gross domestic product, had increased at a steady 3.5 percent so far this year, but could slow to 2 percent through year end, and into the...
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