Hurricane Sandy may slow US economic growth

Hurricane Sandy May Slow US Economic Growth

Economists arespeculating how much ofan impact hurricane Sandyis ...More
Economists arespeculating how much ofan impact hurricane Sandyis going to have on theUS economy andparticularly its economicgrowth. Millions ofemployees are forced offwork and these businessesare going to suffer thisweek, from restaurants,air and rail services torefineries. Less

Hurricane Sandy may slow US economic growth

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Overview:
Economists are speculating how much of an impact hurricane Sandy is going to have on the US economy and particularly its economic growth. Millions of employees are forced off work and these businesses are going to suffer this week, from restaurants, air and rail services to refineries.
Description:

Economists are speculating how much of an impact hurricane Sandy is going to have on the US economy and particularly its economic growth. Millions of employees are forced off work and these businesses are going to suffer this week, from restaurants, air and rail services to refineries.

There are concerns that this will result in a cut in economic growth and may even reduce Gross Domestic Product figures. There is a tremendous cost in the lost output involved.

The storm is also disrupting the release of economic data. The Conference Board, who releases the consumer confidence report, has delayed the announcement until 10 a.m. tomorrow.

Other economists suggest that the recovery from the storm may even give the economy a boost by November since there may need to be repairs on infrastructure which will be beneficial in the long-term.

The markets are set to reopen Wednesday morning. Since the onset of the hurricane and the closure of stock markets, there has been no noticeable effect on currency trading since some early losses on EUR/USD Monday morning.

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Posted on: 05:06 PM - 10 Jun 13

Hurricane Sandy may slow US economic growth
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Economists are speculating how much of an impact hurricane Sandy is going to have on the US economy and particularly its economic growth. Millions of employees are forced off work and these businesses are going to suffer this week, from restaurants, air and rail services to refineries.
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