Economists Speculate on Sandy's Economic Fallout

Ad Feedback

Analysts are already counting the cost of damage done by superstorm Sandy. Estimates range from $10 to $20 billion.

The price tag might top last year's Hurricane Irene, which cost $15.8 billion, making Sandy one of the 10 most costly hurricanes in U.S. history.

Some analysts say damage to the overall economy won't be too bad.

"Assuming the storm simply disrupts things for a few days and it doesn't do significant damage to infrastructure, then I don't think it will have a significant national impact," Mark Zandi, chief economist at Moody's Analytics, said.

Natural disasters can cause major damage, but the economic increase fueled by reconstruction and rebuilding usually makes up for the losses.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.