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U.S. economy was remarkably strong in 2005: expect more of the same for 2006.

Publication: Montana Business Quarterly
Publication Date: 22-MAR-06 		Format: Online
Delivery: Immediate Online Access
Full Article Title: U.S. economy was remarkably strong in 2005: expect more of the same for 2006.(U.S. OUTLOOK)

Article Excerpt
[ILLUSTRATION OMITTED]

During 2005, the news media was full of stories about economic disasters. High energy prices were supposed to hurt consumer spending. High interest rates were going to burst the housing bubble. Then came hurricane Katrina. And Rita. The winds and flooding were going to impact everything from energy to coffee prices.

What did happen to the U.S. economy? From the latest quarterly data on growth rates for Gross Domestic Product, we can see that there was no noticeable deterioration (Figure 1). Obviously, the U.S. economy was stronger than anybody anticipated.

Hurricane Impacts

2005 was the year of the weather. Just how do events like hurricanes Katrina and Rita impact the U.S. economy? It's not the wind speed or the rain that matter, but where the hurricane hits.

The city of New Orleans was directly in the path...

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