U.S. Economic Growth Steady Before Hurricane; Analysts Predict Lasting Effect On Overall Activity

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WASHINGTON -- Factories were chugging, cash registers were busy and jobs were growing in the late summer -- fresh proof that the economy was in fine shape before Hurricane Katrina slammed into the Gulf Coast, spreading death and destruction.

The Federal Reserve's latest snapshot of business conditions around the country, released Wednesday, was taken before the hurricane struck last week. The storm knocked out essential oil and gas facilities, choked transportation and shipping and wiped out businesses and homes.

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U.S. Economic Growth Steady Before Hurricane; Analysts Predict Lasting Effect On Overall Activity

Now private economists and the Congressional Budget Office predict fallout from the storm will cause overall U.S. economic activity to slow...

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