Net of Hurricane Harvey Effects,
Headline Economic Numbers Still Were Miserable, Suggestive of Recession

Hurricane Impact on August Activity: Mixed, Probably Net-Neutral for Retail Sales;
Accounted for 0.75% (-0.75%) of the 0.90% (-0.90%) Drop in Monthly Production

August Real Retail Sales Declined by 0.61% (-0.61%) in the Month,
Plunged by 1.24% (-1.24%) Net of Downside, Prior-Period Revisions

Third-Quarter Real Retail Sales Are Contracting at an
Early (Two-Month) Annualized Pace of 0.4% (-0.4%)

Ex-Hurricane, August Industrial Production Declined by 0.15% (-0.15%)

In the Dominant but Still-Faltering Manufacturing Sector of Production:
A Record 116 Months of Continued Non-Expansion, with No End in Sight