Experts Say Sandy Not Likely to Have Major Effect on U.S. Economy
By: Michael C. Fehn
Updated: October 30, 2012
Analysts say damages from Superstorm Sandy likely won't reach the U.S. economy.
Insurers are expecting to have to pay up to 5-billion dollars and retailers are expecting smaller sales, but for the overall economy, experts say damage from the storm is expected to be limited.
Any economic growth that is lost to the storm in the short run will probably be restored after reconstruction begins.
Preliminary estimates are that the damage will range between 10 and 20 billion dollars. That could top last year's Hurricane Irene, which cost 15-point-8 billion.
Insurers are expecting to have to pay up to 5-billion dollars and retailers are expecting smaller sales, but for the overall economy, experts say damage from the storm is expected to be limited.
Any economic growth that is lost to the storm in the short run will probably be restored after reconstruction begins.
Preliminary estimates are that the damage will range between 10 and 20 billion dollars. That could top last year's Hurricane Irene, which cost 15-point-8 billion.
