Personal income fell by 0.1 per cent in August, depressed by weak wage growth and the effects of hurricane Katrina on income in the affected states.

 The figures from the Bureau of Economic Analysis puts the damage to residential property of around $22.3bn. They estimate that about $14.9bn - or 67 per cent - will be covered by insurance. The total uninsured loss - excluding government assets, corporate assets and personal property such as cars - was estimated at *$8.3bn.