November 1, 2012 / 5:51 PM / 5 years ago

Fed's Lockhart says Sandy could hurt Q4 U.S. GDP

CHATTANOOGA (Reuters) - The large population of areas affected by Sandy’s devastation means the storm could hurt fourth-quarter U.S. economic growth, Atlanta Federal Reserve Bank President Dennis Lockhart said on Thursday.

“Given the population of the Northeast and the density of economic activity in the Northeast, it would not surprise me if there is a measurable fourth-quarter effect of the storm, in GDP terms,” Lockhart told reporters after a speech.

He added that reconstruction in the coming months could also boost gross domestic product. (Reporting by Pedro Nicolaci da Costa; Editing by Neil Stempleman)

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