The economy was growing solidly before hurricanes Katrina and Rita, whose double blow is expected to make for rocky business activity in the months ahead.
A Commerce Department report released Thursday showed that gross domestic product grew at a 3.3 percent annual rate in the April-to-June quarter, confirming that economic activity was humming along at a respectable pace before the disasters struck. The growth rate, which was unchanged from an estimate made a month ago, met analysts’ expectations. In first three months of the year, the economy grew at a healthy 3.8 percent pace.
