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Economic impact of Sandy’s damage on U.S. economy
Economists estimate Sandy caused about 20 billion dollars in damages and 10 to 30 billion in lost business, with a short term drag of about 0.6 percentage point on GDP in Q4. Long term growth may benefit from reconstruction, while power outages, refinery shutdowns, and disrupted travel linger.
MENTIONED IN THIS ARTICLE
Washington, D.C
IHS Global Insight
New York City
Northeast
U.S
IHS
New York Metro
Financial District
Manhattan
Brooklyn
New York Stock Exchange
Jim Oe
Wells Capital Management
Paulsen
Stock Exchange
Fannie Mae
Freddie Mac