Snow sees % GDP impact from Hurricane

U.S. Treasury Secretary John Snow told Bloomberg Television on Friday 9 September that U.S. economic growth would probably dip by closer to 1/2 percentage point in the second half of 2004 because of the Hurricane Katrina.

Responding to a question on the accuracy of the Congressional Budget Office's estimate that Katrina would cut near-term gross domestic product growth by 1 percentage point, Snow said he reckoned that estimate was too high.

"I think it's probably on the high side. I've seen oth