Texas, Hurricane Harvey, Houston discussed on Investing Simplified

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That was really kind of a shocker to me i had anticipated that the holiday season was good and business was booming but retail sales were sitting at toilet and and it's something that you know i know here firsthand i live between houston and galveston texas which was ground zero for the knock on affect of hurricane harvey it came ashore about a hundred and fifty miles south of us but then it drifted up to where we are sad over us for three days and drummed dumped fifty one inches of rain and so what happened is we immediately everybody lost stuff i would luckily did not people immediately replaced their cars six hundred thousand cars were lost in this area to hurricane harvey and then they were placed all their personal goods and says that pulled a lot of demand forward to the fall and you know the i guess it was late fall there in september october november and then of course sales fell back to what we think of as the normal level in december january and february and your point is well taken people looked at the the months coming into december and said my goodness look at how much spending is going on this is going to be great and when it fell back people scratching their heads saying what happened and it's like well i can tell you what happened you know we pulled some forward and now we're back to what is that kind of modest bump along growth i have some real concerns about the economy and i i know i know back in i believe it was november harry it said that there's a possible for a little pullback in january and actually i think on january twenty six to the fifth i think it dropped about ten point two percent the snp dead and now come back and i think it's still about three or four percent leg behind that high that had hit so it still has a bounce back this is the biggest change that i think your listeners should be paying attention to i know.

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