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Economic toll from Sandy topples growth hopes
The storm costs reach about 20 billion dollars in property damage and 10 to 30 billion in lost business, with short term GDP impact seen in the October-December quarter. Rebuilding may lift activity later, while NYC and Northeast disruption weighs on travel, fuel demand, and retailers.
MENTIONED IN THIS ARTICLE
Washington
IHS Global Insight
New York City
Northeast
U.S
IHS
New York Metro
Financial District
Manhattan
Brooklyn
Fannie Mae
Freddie Mac
United States
Paul Ashworth
Capital Economics
Ashworth
Caranci
Sears Holdings Corp
Kmart
Sears
Wal-Mart Stores Inc
Darden Restaurants Inc
Olive Garden
Red Lobster
Burt Flickinger III
Strategic Resource Group
Macy’s
Saks
Fifth Avenue