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COPYRIGHT 2005 Voxant Inc.
Original Source: CNBC/DOW JONES BUSINESS VIDEO ANALYST INTERVIEW
MARIA BARTIROMO, CNBC ANCHOR: So, looking at the economic impact of these hurricanes, first Katrina, now Rita, which was just upgraded this afternoon to a Category 5 storm, Stuart Hoffman is with us, chief economist at PNC Financial Services; Lynn Reaser, economist at Banc of America, and CNBC`s senior economics reporter Steve Liesman.
Steve, why don`t you begin us off and tell us the expectation you have been hearing as far as the economic impact short term and longer term.
STEVE LIESMAN, CNBC SENIOR ECONOMICS REPORTER: Well, it`s interesting, Maria. Right out of the box, Katrina was said to be a -- cost the economy about a half a point to a full percentage point. And just today, Macroeconomic Advisors, which does a fine job of sort of covering the day- to-day movements in the projected GDP, they said about 0.2 percent or 2/10 of a percentage point, which is much less than originally thought. And that again was reiterated by Douglas Holtz-Eakin, the CBO director this morning...
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