Authors: Bill McNee, Bruce Guptill, Jim Cassell, Mark Koenig

Hurricane Katrina devastated a wide swath of the US Gulf Coast economy, from individual homes to businesses, including major energy, agricultural, and transportation infrastructure. It will take months or longer for the full economic impact to be felt, measured and repaired. While much of the impact is localized – the reverberations will be felt throughout the US and world economy for at least the next two calendar quarters. The most likely result is the slowing of US GDP growth due to higher energy prices and rising inflation, combined with a more cautious consumer. Given ITs share of total corporate capital spending, a slowing economy may slow new IT initiatives short-term.

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