Sandy’s Economic Cost: Up to $50 Billion and Counting Early estimates of the economic impact of Hurricane Sandy put the total loss between $30 billion and $50 billion, making it one of the costliest storms in U.S. history. But forecasters acknowledge that their estimates are highly preliminary and the financial toll could rise as the extent of damage from the historic storm becomes more apparent. Two principal factors account for the losses: lost economic business activity and insured and uninsured property losses. These will be somewhat offset by economic activity from the cleanup and rebuilding, but there is a substantial debate about just how much of an offset this provides. Full story Photo: AP
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Sandy’s Economic Cost: Up to $50 Billion and Counting

Early estimates of the economic impact of Hurricane Sandy put the total loss between $30 billion and $50 billion, making it one of the costliest storms in U.S. history.

But forecasters acknowledge that their estimates are highly preliminary and the financial toll could rise as the extent of damage from the historic storm becomes more apparent.

Two principal factors account for the losses: lost economic business activity and insured and uninsured property losses. These will be somewhat offset by economic activity from the cleanup and rebuilding, but there is a substantial debate about just how much of an offset this provides.

Full story


Photo: AP

Source: cnbc.com

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