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:

Market Snapshot: Dow posts back-to-back records, books best weekly since July Market Snapshot: Dow posts back-to-back records, books best weekly since July
Tilray stock slammed as cannabis sector finishes turbulent week Tilray stock slammed as cannabis sector finishes turbulent week
Key Words: Anthony Bourdain in trailer for show’s final season: ‘I pinch myself’ Key Words: Anthony Bourdain in trailer for show’s final season: ‘I pinch myself’
Walmart letter warns tariffs will raise prices and tax American businesses Walmart letter warns tariffs will raise prices and tax American businesses
NewsWatch: Dow, S&P 500 records belie festering fear that China and the U.S. ‘are on a collision course’ NewsWatch: Dow, S&P 500 records belie festering fear that China and the U.S. ‘are on a collision course’
Outside the Box: It’s time for companies to end the obsession with millennials and hire older workers with skills and expertise Outside the Box: It’s time for companies to end the obsession with millennials and hire older workers with skills and expertise
The Ratings Game: iPhone lines were shorter this year, though that might not mean much for Apple The Ratings Game: iPhone lines were shorter this year, though that might not mean much for Apple
The Wall Street Journal: U.K.’s May says Brexit talks have reached ‘an impasse’ The Wall Street Journal: U.K.’s May says Brexit talks have reached ‘an impasse’

Leave a Reply

Submit Comment
© 2412 Stock Investors News. All rights reserved. XHTML / CSS Valid.