The Wall Street Journal: Hurricanes have little impact on the U.S. economy

Hurricanes upend lives and destroy wealth, but leave little lasting imprint on the broader economy.

That is one of the main takeaways from an examination of the economic effects of storms in recent years.

Read: Evacuating due to Hurricane Florence? Include these items in you ‘financial go-bag’

With Hurricane Florence hitting the U.S. East Coast, and potentially more storms to come in the weeks ahead, it is a time to assess the economic impacts of natural disasters.

Hurricane Harvey last year flooded the nation’s fourth-largest city by population, Houston, destroying $125 billion worth of property, according to estimates by Moody’s Analytics Inc. But lost economic output was just $8.5 billion, a barely perceptible sliver of more than $19 trillion of national economic output, according to Moody’s.

An expanded version of this report is available on WSJ.com.

Also popular on WSJ.com:

Cord-Cutters Beware: Streaming TV Prices Are Marching Higher

The Billion-Dollar Mystery Man and the Wildest Party Vegas Ever Saw

Providing critical information for the U.S. trading day. Subscribe to MarketWatch’s free Need to Know newsletter. Sign up here.

Filed in: Top News Tags: 

You might like:

Commodities Corner: Why OPEC+ effort to stabilize oil prices points to potential supply deficit unless shale output rebounds Commodities Corner: Why OPEC+ effort to stabilize oil prices points to potential supply deficit unless shale output rebounds
Currencies: Here’s another reason for the stock market rally — the U.S. dollar’s ‘almost silent slide’ Currencies: Here’s another reason for the stock market rally — the U.S. dollar’s ‘almost silent slide’
Dispatches from a Pandemic: ‘I recognize the privilege inherent in keeping my life tidily compartmentalized:’ How quarantine made me reevaluate my life Dispatches from a Pandemic: ‘I recognize the privilege inherent in keeping my life tidily compartmentalized:’ How quarantine made me reevaluate my life
The Tell: Wharton finance professor says an index of mom-and-pop businesses ‘would show devastation far worse than what we saw in the stock market’ The Tell: Wharton finance professor says an index of mom-and-pop businesses ‘would show devastation far worse than what we saw in the stock market’
Dispatches from a Pandemic: ‘I recognize the privilege inherent in keeping my life tidily compartmentalized:’ How ‘context collapse’ in quarantine made me rethink my life Dispatches from a Pandemic: ‘I recognize the privilege inherent in keeping my life tidily compartmentalized:’ How ‘context collapse’ in quarantine made me rethink my life
Black Americans are twice as likely to be hospitalized from COVID-19 Black Americans are twice as likely to be hospitalized from COVID-19
The Conversation: How to deal with coronavirus risks when you walk into a public bathroom The Conversation: How to deal with coronavirus risks when you walk into a public bathroom
Capitol Report: Black Americans, their lives and livelihoods on the line, suffer most from the pandemic Capitol Report: Black Americans, their lives and livelihoods on the line, suffer most from the pandemic
© 2020 Stock Investors News. All rights reserved. XHTML / CSS Valid.