Hurricanes Helene and Milton caused $90bn in damages, disrupting US economic data collection and reducing Q4 GDP by 0.3%.
Hurricanes Helene and Milton have caused significant disruptions to economic data collection, complicating predictions for the U.S. economy. With a combined $90 billion in damages, they led to a temporary rise in unemployment and may influence car prices. The storms are projected to reduce GDP by 0.3% in Q4, with a rebound anticipated later. Key sectors like industrial production and retail are affected, and the recovery timeline remains uncertain, particularly in less diverse regions.
October 21, 2024
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