


<!DOCTYPE html>

<html lang="en">
    




<head>
    
    



     <script type="text/javascript">
        var FOX_pagedescriptor = window.FOX_pagedescriptor = {breadcrumb:"/markets", isMgmt: "false", site: "fb2",cq: "true"};
    </script>
    <meta charset="UTF-8">
    <meta http-equiv="X-UA-Compatible" content="IE=edge,chrome=1">
    <meta name="viewport" content="width=device-width, initial-scale=1.0, maximum-scale=1.0, user-scalable=no">
    


			    

<title>Hurricane Harvey could knock down U.S. GDP growth: Goldman Sachs | Fox Business</title>
<meta name="dc.title" content="Hurricane Harvey could knock down U.S. GDP growth: Goldman Sachs">
<meta name="description" content="Economists believe Harvey could cost as much as one percentage point to third-quarter GDP growth.">
<meta name="dc.description" content="Economists believe Harvey could cost as much as one percentage point to third-quarter GDP growth.">
<meta name="dcterms.abstract" content="Economists believe Harvey could cost as much as one percentage point to third-quarter GDP growth.">
<meta name="dc.publisher" content="Fox Business">
<meta name="dc.creator" content="Matthew Rocco">
<meta name="dc.date" content="2017-09-11">
<meta name="dcterms.created" scheme="dcterms.ISO8601" content="2017-09-11 11:28:04 EDT">
<meta name="dcterms.modified" scheme="dcterms.ISO8601" content="2017-09-11 11:28:04 EDT">
<meta name="dc.source" content="FOXBusiness">
<meta name="dc.identifier" scheme="dcterms.URI" content="dbada55c-840b-4272-9d8c-b80f589e9940">
<meta name="dc.subject" content="">
<meta name="keywords" content="">
<link rel="shorturl" href="http://fxn.ws/2jhXWpW">
<link rel="canonical" href="http://www.foxbusiness.com/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.html">

<link rel="amphtml" href="http://www.foxbusiness.com/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.amp.html">


<link rel="standout" href="http://www.foxbusiness.com/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.html"> 
<meta name="prism.aggregationType" content="subsection">
<meta name="prism.genre" content="">
<meta name="dc.type" scheme="dcterms.DCMIType" content="Text.Article">
<meta name="prism.channel" content="fbn">
<meta name="prism.section" content="markets">
<meta name="prism.subsection1" content="">
<meta name="prism.subsection2" content="">
<meta name="prism.subsection3" content="">
<meta name="prism.subsection4" content="">
<meta property="og:title" content="Hurricane Harvey could knock down U.S. GDP growth: Goldman Sachs">
<meta property="og:description" content="Economists believe Harvey could cost as much as one percentage point to third-quarter GDP growth.">
<meta property="og:type" content="article">

    <link rel="image_src" href="//a57.foxnews.com/images.foxnews.com/content/fox-business/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs/_jcr_content/image.img.jpg/0/0/1505143557174.jpg?ve=1">
    <meta property="og:image" content="//a57.foxnews.com/images.foxnews.com/content/fox-business/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs/_jcr_content/image.img.jpg/0/0/1505143557174.jpg?ve=1">

<meta property="og:url" content="http://www.foxbusiness.com/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.html">
<meta property="og:site_name" content="Fox Business">

    
    
        <meta name="classification" content="/FOX BUSINESS/ECONOMIC INDICATORS,/FOX BUSINESS/MARKETS,/FOX BUSINESS/MARKETS/Stocks,/FOX BUSINESS/News,/FOX BUSINESS/MARKETS/Wall Street">
    
    
        <meta name="classification-isa" content="ecoindicators,markets,stocks,news,wallstmarkets">
    

<meta property="fb:app_id" content="116027085089150">



<meta name="twitter:card" content="summary_large_image">

    <meta name="twitter:title" content="Hurricane Harvey could knock down U.S. GDP growth: Goldman Sachs">
    <meta name="twitter:description" content="Economists believe Harvey could cost as much as one percentage point to third-quarter GDP growth.">
    <meta name="twitter:url" content="http://www.foxbusiness.com/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.html">
    <meta name="twitter:creator" content="">
    
        <meta name="twitter:image" content="http://a57.foxnews.com/images.foxnews.com/content/fox-business/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs/_jcr_content/image.img.jpg/0/0/1505143557174.jpg?ve=1">
    

<meta name="dc.format" scheme="dcterms.IMT" content="text/html">
<meta name="dc.language" scheme="dcterms.RFC4646" content="en-US">
<meta http-equiv="content-type" content="text/html; charset=UTF-8">
<meta http-equiv="content-language" content="en">
<meta name="livefyreconfig" collectionMeta="eyJhbGciOiJIUzI1NiJ9.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.WvkweqyOMjK_eSoduPJalDXP9RucbL0eT_oB6Hyq-pk" checksum="ff9e4bb63e423e235b1068873a1e0f96" articleId="dbada55c-840b-4272-9d8c-b80f589e9940" siteId="310717" enable="true"/>
<meta name="livefyreblogconfig" collectionMeta="eyJhbGciOiJIUzI1NiJ9.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.OaPXf2a42DbPrOdC1vFz9q93NMgXS7Ok1rJgNBP3JAw" checksum="c11d8dceedb1f23fd0a86face8463757" articleId="dbada55c-840b-4272-9d8c-b80f589e9940blog" siteId="310717" enable="false"/>
<meta name="livefyrereviewsconfig" collectionMeta="eyJhbGciOiJIUzI1NiJ9.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.SqtMDJahBMozjMnTMENoEbaOIeCgVF8QJCzTlLWCH_s" checksum="f522ef6f937014071388bb51b6d2734e" articleId="dbada55c-840b-4272-9d8c-b80f589e9940reviews" siteId="310717" enable="true"/>

<meta name="pagetype" content="article"/>


	
	
		<meta name="robots" content="noarchive, noodp, nofollow ">
	


<!--  dns-prefetch tags -->
<meta http-equiv="x-dns-prefetch-control" content="on"> 
<link rel="dns-prefetch" href="//a57.foxnews.com"> 
<link rel="dns-prefetch" href="//global.fncstatic.com"> 
<link rel="dns-prefetch" href="//images.outbrain.com"> 
<link rel="dns-prefetch" href="//widgets.outbrain.com"> 
<link rel="dns-prefetch" href="//widget-cdn.rpxnow.com"> 
<link rel="dns-prefetch" href="//pagead2.googlesyndication.com"> 
<link rel="dns-prefetch" href="//securepubads.g.doubleclick.net"> 
<link rel="dns-prefetch" href="//z.moatads.com"> 
<link rel="dns-prefetch" href="//hpr.outbrain.com"> 
<link rel="dns-prefetch" href="//metrics.foxnews.com"> 
<link rel="dns-prefetch" href="//cdn.tt.omtrdc.net"> 
<link rel="dns-prefetch" href="//foxnews.demdex.net"> 
<link rel="dns-prefetch" href="//static.chartbeat.com"> 
<link rel="dns-prefetch" href="//cdn.taboola.com"> 
<link rel="dns-prefetch" href="//assets.tapad.com"> 
<link rel="dns-prefetch" href="//www.googletagservices.com"> 
<link rel="dns-prefetch" href="//cdn.livefyre.com"> 
<link rel="dns-prefetch" href="//foxnews.tt.omtrdc.net"> 
<link rel="dns-prefetch" href="//log.outbrain.com"> 
<link rel="dns-prefetch" href="//cdn.optimizely.com"> 
<link rel="dns-prefetch" href="//b.scorecardresearch.com">









    <script src="http://global.fncstatic.com/static/v/all/js/ag.jquery.js?201405051029"></script>
    <script src="http://global.fncstatic.com/static/v/all/js/ag.base.js?201405051029"></script><link rel="schema.dc" href="http://purl.org/dc/elements/1.1/">
    <link href="https://fonts.googleapis.com/css?family=Source+Sans+Pro:200,300,400,600,400italic,700,700italic,300,300italic,600italic" rel="stylesheet" type="text/css">
    <link rel="schema.dcterms" href="http://purl.org/dc/terms/">
    <link rel="schema.prism" href="http://prismstandard.org/namespaces/basic/2.1/"> 
    <link rel="schema.iptc" href="http://iptc.org/std/nar/2006-10-01/">
    <link rel="shortcut icon" href="http://global.fncstatic.com/static/cq/fb/img/all/favicon.ico" type="image/x-icon"/>
    <link rel="apple-touch-icon" sizes="57x57" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-57x57.png">
    <link rel="apple-touch-icon" sizes="60x60" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-60x60.png">
    <link rel="apple-touch-icon" sizes="72x72" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-72x72.png">
    <link rel="apple-touch-icon" sizes="76x76" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-76x76.png">
    <link rel="apple-touch-icon" sizes="114x114" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-114x114.png">
    <link rel="apple-touch-icon" sizes="120x120" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-120x120.png">
    <link rel="apple-touch-icon" sizes="144x144" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-144x144.png">
    <link rel="apple-touch-icon" sizes="152x152" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-152x152.png">
    <link rel="apple-touch-icon" sizes="180x180" href="http://global.fncstatic.com/static/cq/fb/img/all/apple-touch-icon-180x180.png">
    <link rel="icon" type="image/png" href="http://global.fncstatic.com/static/cq/fb/img/all/favicon-16x16.png" sizes="16x16">
    <link rel="icon" type="image/png" href="http://global.fncstatic.com/static/cq/fb/img/all/favicon-32x32.png" sizes="32x32">
    <link rel="icon" type="image/png" href="http://global.fncstatic.com/static/cq/fb/img/all/favicon-96x96.png" sizes="96x96">
    <link rel="icon" type="image/png" href="http://global.fncstatic.com/static/cq/fb/img/all/android-chrome-192x192.png" sizes="192x192">
    <meta name="msapplication-square70x70logo" content="http://global.fncstatic.com/static/cq/fb/img/all/smalltile.png" />
    <meta name="msapplication-square150x150logo" content="http://global.fncstatic.com/static/cq/fb/img/all/mediumtile.png" />
    <meta name="msapplication-wide310x150logo" content="http://global.fncstatic.com/static/cq/fb/img/all/widetile.png" />
    <meta name="msapplication-square310x310logo" content="http://global.fncstatic.com/static/cq/fb/img/all/largetile.png" />
    <link href="http://global.fncstatic.com/static/cq/fb/css/global.rs.css" rel="stylesheet" type="text/css">
    <script src="http://global.fncstatic.com/static/cq/all/js/lib/ag.global.js"></script>
    <script src="http://global.fncstatic.com/static/cq/fb/js/lib/ag.foxbusiness.js"></script>
     

       
    



<link href="http://global.fncstatic.com/static/cq/fb/css/article.rs.css" rel="stylesheet" type="text/css">

    
    


<!--[if lt IE 9]><script src="http://html5shim.googlecode.com/svn/trunk/html5.js"></script><![endif]-->
<!--[if lt IE 9]><script src="http://css3-mediaqueries-js.googlecode.com/svn/trunk/css3-mediaqueries.js"></script><![endif]-->

    
    <script src="http://global.fncstatic.com/static/isa/core.js" type="text/javascript"></script>
    
    
    <script type="text/javascript">
        if (window.FOX) {FOX.site.topInit();}
    </script>

    
</head>

    



<body class="fb markets single single-article">
	

<div class="mboxDefault"></div>
<script type="text/javascript">
	mboxCreate('FoxNews-Standard','pagetype=article', 'site=fbn','section=markets', 'subsection=');
</script>

	






    <div class="page">
	    










<div class="container">
    




    
    
        
            
            
                



<header class="masthead">
    
        <div class="search-dropdown hide">
            <form action="/search.html" method="get">
                <input type="text" placeholder="Search for keywords or stock symbols" name="q">
                <input type="hidden" name="ss" value="fb">
            </form>
        </div>
    
    <div class="inner">
        <div class="logo"><a href="/">Fox Business</a></div>
        <nav class="main">
            <ul>
                <li class="menu-home"><a href="/"><span>Home</span></a></li>
                <li class="menu-markets">
                    <a href="/markets.html">Markets</a>
                </li>
                <li class="menu-politics">
                    <a href="/politics.html">Politics</a>
                </li>
                <li class="menu-features">
                    <a href="/features.html">Features</a>
                    
                        <div class="sub">
                            <ul>
                                
                                    <li class="menu-sub"><a href="/category/small-business/small-business-big-success.html">Small Business, Big Success </a></li>
                                
                                    <li class="menu-sub"><a href="/category/technology/cyber-security.html">Cyber Security</a></li>
                                
                                    <li class="menu-sub"><a href="/category/business-leaders.html">Business Leaders</a></li>
                                
                                    <li class="menu-sub"><a href="/category/personal-finance.html">Personal Finance</a></li>
                                
                            </ul>
                        </div>
                    
                </li>
                <li class="menu-fbn-tv">
                    <a href="/fbntv.html">FBN TV</a>
                    
                        <div class="sub">
                            <ul>
                                <li class="menu-sub"><a href="/shows.html">SHOWS</a></li>
                                <li class="menu-sub"><a href="/person/personalities.html">ANCHORS &amp; REPORTERS</a></li>
                                <li class="menu-sub"><a href="/fbntv/schedule.html">SCHEDULE</a></li>
                                <li class="menu-sub"><a href="//video.foxbusiness.com/">VIDEO</a></li>
                            </ul>
                        </div>
                    
                </li>
                <li class="menu-search">
                    <a href="/search.html"><span>Search</span></a>
                </li>
            </ul>
        </nav>
    </div>
    
        
            
            
                




    
        
    
    
    

            
        
            <div class="ad-container large desktop">
                <div class="ad gpt ad-h-90" id="desktop-728x90"></div>
            </div>
    
</header>
            
        
    

    
        




<div class="sidebars" data-feed="">
    <aside class="sidebar sticky">
        
            <div class="market-data">
                <div class="stocks">
                    
                        <div class="stock" data-stock-ticker="I:DJI"
                             data-stock-title="" data-stock-url="">
                            <span class="name"></span>
                            <span class="current"></span>
                            <span class="change"></span>
                            <span class="percent"></span>
                        </div>
                    
                        <div class="stock" data-stock-ticker="I:COMP"
                             data-stock-title="" data-stock-url="">
                            <span class="name"></span>
                            <span class="current"></span>
                            <span class="change"></span>
                            <span class="percent"></span>
                        </div>
                    
                        <div class="stock" data-stock-ticker="SP500"
                             data-stock-title="" data-stock-url="">
                            <span class="name"></span>
                            <span class="current"></span>
                            <span class="change"></span>
                            <span class="percent"></span>
                        </div>
                    
                        <div class="stock" data-stock-ticker="FUT-CL"
                             data-stock-title="Oil " data-stock-url="">
                            <span class="name"></span>
                            <span class="current"></span>
                            <span class="change"></span>
                            <span class="percent"></span>
                        </div>
                    
                </div>
                
                
                    <div class="advert sponsor">
                        <div class="ad gpt" id="snapshot-292x30">
                        </div>
                    </div>
                
            </div>
        
        <div class="ad-container desktop">
            <div class="ad gpt ad-h-250" data-ad-pos="dashboard" data-ad-size="300x250" id="dashboard-300x250"></div>
            <p class="advert-txt">ADVERTISEMENT</p>
        </div>
    </aside>

    <div class="radar-bar">
        <div class="text"><h3>On Our Radar</h3></div>
        <span class="count"><a href="#"></a></span>
    </div>
    <aside class="sidebar social hide">
        <section class="on-our-radar">
            <div class="sticky-bar">
                <a href="#" class="refresh">Refresh</a>
                <span class="count"></span>
                <a href="#" class="close">Close</a>
            </div>
            <header>
                <h2>On Our Radar</h2>
            </header>
            <footer>
                <div class="button">
                    <a href="#">Load More</a>
                </div>
            </footer>
        </section>
    </aside>

</div>
    
    <main class="main-content">
        <div class="wrap">
            



<article class="story" data-article-link="/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.html">
    




    <div class="inner">
    	    
    
        




<header class="article-header">
    <h1>Hurricane Harvey could knock down U.S. GDP growth&#x3a; Goldman Sachs</h1>
    <div class="meta">
        <p>
            
                By
                <span class="author">
                    <span>
                        
                        	
		            		
                            	<a href="/person/r/matthew-rocco.html" rel="author">
                            
                             Matthew Rocco
                            
                           		</a>
                            
                            
                        
                        
                    </span>
                </span>
            
            <time class="date" datetime="2017-09-11T11:20:00.000-04:00">Published
                September 11, 2017</time>
            
                <span class="tags">
                    <a href="/category/economic-indicators.html">Economic Indicators</a></h2>
                </span>
            
            
                <span class="source">
			
				
					
						<a target="_blank" href="http://www.foxbusiness.com/index.html">FOXBusiness</a>
					
				
				
			
                </span>
             
        </p>
    </div>
</header>

    <div class="social">
        <ul>
            <li class="fb"><a href="#"><span>Facebook</span></a></li>
            <li class="tw"><a href="#"><span>Twitter</span></a></li>
            
                <li class="comments"><a href="#"><span>Comments</span></a></li>
            
            <li class="print"><a href="/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.print.html"><span>Print</span></a></li>
        </ul>
    </div>


        <div class="big-top article-ct">
            




    
    
	
		<div class="m video-ct" data-video-id="5560746076001" data-video-domain="foxbusiness">
			<a href="http://video.foxbusiness.com/v/5560746076001/how-will-harvey-impact-us-gdp">
                
                    
                    
                        <img src="//a57.foxnews.com/media.foxbusiness.com/BrightCove/854081161001/201709/1939/932/470/854081161001_5560747604001_Will-Harvey-impact-US-GDP.jpg?ve=1&tl=1" alt="Bankrate.com&#x27;s Mark Hamrick on Harvey&#x27;s impact on the economy and gas prices."/>
                    
                
                <span class="overlay">video</span>
			</a>
		</div>
        <div class="caption">
            <h3><a href="http://video.foxbusiness.com/v/5560746076001/how-will-harvey-impact-us-gdp">How will Harvey impact US GDP&#x3f;</a></h3>
            <p>
                Bankrate.com&#x27;s Mark Hamrick on Harvey&#x27;s impact on the economy and gas prices.
                
            </p>
            
        </div>
    



        </div>
        <div class="article-content content article-body">
            



<div class="article-text">
    
        
        
        
            
                
                
                    





    
    <p>Hurricane Harvey, potentially the costliest storm on record, may have taken a large bite out of U.S. economic growth in the third quarter, according to Goldman Sachs.</p>
        
    
        
            
                
                    <div class="ad-container desktop">
                        <div class="ad gpt" id="desktop-300x600_300x250"></div>
                    </div>
                
                
            
            <div class="ad-container tablet">
                <div class="ad gpt" id="tablet-300x250"></div>
            </div>
        
        <div class="ad-container mobile">
            <p>Continue Reading Below</p>
            <div class="ad gpt" id="mobile-320x50_300x250"></div>
        </div>
    
    
	
    


    
    <p>Economists at the investment bank believe Harvey could cost as much as one percentage point to third-quarter GDP growth, saying major natural disasters are associated with large declines in economic activity. Harvey brought record flooding to Houston and other areas in southeast Texas. The massive storm forced oil refineries and a critical fuel pipeline to temporarily shut down. Goldman Sachs cited negative impacts to housing, consumption and inventories as well.</p>
        
    
    
	
    


    
    <p>As a result, Goldman Sachs lowered its GDP estimate by 0.8 percentage points to 2%. It also projected a near-term drag on September job growth of 20,000, with the possibility of as much as 100,000 fewer hires this month.</p>
        
    
    
            <div class="ad gpt" data-ad-pos="inread" data-ad-size="1x1"></div>
    
	
    


    
    <p>However, the U.S. economy should bounce back rather quickly, Goldman Sachs said.</p>
        
    
    
	
    


    
    <p>“We expect this weakness to reverse over the subsequent three quarters, more than recouping the lost output,” the economists said in a research note.</p>
        
    
    
	
    


    
    <p>The firm lifted its GDP growth estimates for the following three quarters by 0.4, 0.2 and 0.4 percentage points, respectively. Fourth-quarter GDP is now expected to jump 2.7%, followed by 2.5% and 2.4% growth in the first and second quarters of 2018.</p>
        
    
    
	
        
            <div class="ad-container mobile">
                <p>Continue Reading Below</p>
                <div class="ad gpt" id="mobile-300x251"></div>
                <p class="advert-txt">ADVERTISEMENT</p>
            </div>
        
    
    




    
    
    
    	<section class="more-on-this">
            <header>
                <h3>More from FOX Business</h3>
            </header>
            <ul>
                
                    
                    



<li>
    <a href="/features/2017/09/07/mark-cuban-trumps-democrat-deal-on-harvey-debt-was-really-smart.html">Mark Cuban&#x3a; Trump&#x27;s Democrat deal on Harvey, debt was really smart</a>
</li>
                
                    
                    



<li>
    <a href="/markets/2017/09/07/sticker-shock-for-harvey-victims-used-car-prices-at-record-high.html">&#x27;Sticker shock&#x27; for Harvey victims&#x3a; Used-car prices at record high</a>
</li>
                
                    
                    



<li>
    <a href="/markets/2017/09/11/irma-expected-to-have-little-impact-on-gas-prices.html">Irma expected to have little impact on gas prices</a>
</li>
                
                    
                    



<li>
    <a href="/markets/2017/09/10/hurricane-irma-gov-scott-promises-to-do-everything-for-storm-recovery.html">Hurricane Irma&#x3a; Gov. Scott promises to do &#x27;everything&#x27; for storm recovery</a>
</li>
                
                
            </ul>
        </section>
    



    
    <p>Goldman Sachs said it will revisit its GDP estimates once there is more information on Hurricane Irma, which continued to make its way through Florida on Monday morning.</p>
        
    
    
	
    


    
    <p>Texas Gov. Greg Abbott has said the state’s recovery from Harvey will cost up to $180 billion. Hurricane Katrina holds the current record with a $108 billion price tag.</p>
        
    
    
	
    


                
            
            
                <p><i></i></p>
            
        
    
</div>
            




            







        </div>        
              
        



<footer class="article-footer">
    
        
        
    
</footer>
        




    
    
        <div class="partners">
            <div class="outbrain"><div class="fox-ob-placement img-strip" data-article-placement="5" data-fbk="1" data-widget-id="AR_19"></div></div><!-- /outbrain -->
            <div class="outbrain"><div class="fox-ob-placement img-strip" data-article-placement="1" data-fbk="1" data-widget-id="AR_20"></div></div><!-- /outbrain -->
            <div class="outbrain"><div class="fox-ob-placement" data-article-placement="6" data-fbk="1" data-widget-id="MB_1"></div></div>
            <div class="ad cu" id="cu_article_4"></div>
        </div>
        
            <section class="commenting">
                <meta name="livefyreconfig" collectionMeta="eyJhbGciOiJIUzI1NiJ9.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.WvkweqyOMjK_eSoduPJalDXP9RucbL0eT_oB6Hyq-pk" checksum="ff9e4bb63e423e235b1068873a1e0f96" articleId="dbada55c-840b-4272-9d8c-b80f589e9940" siteId="310717" enable="true">
                <header>
                    <h2>What do you think?</h2>
                </header>
                <div class="content">
                    <p>Click the button below to comment on this article.</p>
                    <div class="button">
                        <a href="#">Show comments</a>
                    </div>
                </div>
                <span class="livefyre-commentcount"></span>
                <div id="commenting">
                    <div id="livefyre-comment-stream-dbada55c-840b-4272-9d8c-b80f589e9940"></div>
                </div>
            </section>
        
    


    </div>
</article>


        </div>
    </main>
</div>


	    




    
    
        
            
            
                



<footer class="bottom">
    <div class="inner">
        <div class="logo"><a href="/">Fox Business</a></div>
        <nav class="main">
            <ul>
                <li class="active"><a href="/markets.html">Markets</a></li>
                <li><a href="/politics.html">Politics</a></li>
                <li><a href="/features.html">Features</a></li>
                <li><a href="/fbntv.html">FBN TV</a></li>
            </ul>
        </nav>

        <div class="search">
            
                
                
                    <div class="input-wrap">
                        <form action="/search.html" method="get">
                            <input type="text" placeholder="" name="q">
                            <input type="hidden" name="ss" value="fb">
                        </form>
                    </div>
                
            
        </div>

        <nav class="sub">
            <ul>
                <li><a href="/about-us.html">About Fox Business</a></li>
                <li><a href="/channel-finder.html">Channel Finder</a></li>
                <li><a href="mailto:advertisefbn@foxbusiness.com">Advertise With Us</a></li>
                <li><a href="//www.foxbusiness.com/privacy-policy.html#ad-choice">Ad Choices</a></li>
                <li><a href="//careers.foxnews.com/fox-business-network">Jobs</a></li>
                <li><a href="//careers.foxnews.com/students">Internships</a></li>
               	<li><a href="/terms-of-use.html">New Terms of Use</a>  <a href="/terms-new.html">(What's new)</a></li> 
                <li><a href="/privacy-policy.html">New Privacy Policy</a></li>
				<li><a href="//help.foxbusiness.com/index.html">FAQ</a></li>
                <li><a href="http://press.foxbusiness.com/">Media Relations</a></li>
                <li><a href="/closed-captioning.html">Closed Captioning Policy</a></li>
                <li><a href="/accessibility-statement.html">Accessibility Statement</a></li>
            </ul>
        </nav>

        <div class="legal">
            <p>Quotes delayed at least 15 minutes. Real-time quotes provided by <a href="http://www.batstrading.com/">BATS BZX Real-Time Price</a>. Market Data provided by Interactive Data (<a href="/terms-of-use.html">Terms &amp; Conditions</a>). Powered and Implemented by <a href="http://www.interactivedata.com/idms/">Interactive Data Managed Solutions</a>. Company fundamental data provided by <a href="http://www.morningstar.com/">Morningstar</a>. Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by <a href="http://www.lipperweb.com/default.aspx">Lipper</a>. Economic data provided by Econoday. Dow Jones &amp; Company Terms &amp; Conditions.</p>
            <p>This material may not be published, broadcast, rewritten, or redistributed. &copy;2018 FOX News Network, LLC. All rights reserved. <a href="//help.foxbusiness.com/index.html">FAQ</a> - <a href="/privacy-policy.html">Privacy Policy</a></p>
        </div>
    </div>
</footer>
            
        
    

	    



<noscript>
    <img src="http://metrics.foxnews.com/b/ss/foxnewsbusinessprod/1/H22.1--NS/1506745022210?pageName=markets:subsection:article&g=http://www.foxbusiness.com/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.html" style="display:none;" width="0" height="0" border="0" alt="">
    <img src="//secure-us.imrworldwide.com/cgi-bin/m?ci=us-201978h&amp;cg=0&amp;cc=1&amp;si=http://www.foxbusiness.com/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.html&amp;ts=noscript&amp;rnd=1506745022210" style="display:none;" width="0" height="0" border="0" alt="">
    <img src="http://b.scorecardresearch.com/p?c1=2&c2=9013181&c3=&c4=http://www.foxbusiness.com/markets/2017/09/11/hurricane-harvey-could-knock-down-u-s-gdp-growth-goldman-sachs.html&c5=&c6=&c15=&cv=2.2&cj=1" style="display:none;" width="0" height="0" border="0" alt="">
</noscript>
<script type="text/javascript">
    (function($){
        $.ad.pre();
        if (window.FOX) { FOX.site.bottomInit(); }
    }(jQuery));
</script>
    </div>
    <script type="text/javascript">
        (function(d,src){
            var s = d.createElement("script"),
                g = "getElementsByTagName";
            s.async = !0;
            s.src = src;
            (d[g]("head") || d[g]("body"))[0].appendChild(s);
        }(document, "//ws.audioeye.com/ae.js"));
    </script>
</body>
</html>