Sandy unlikely to damage US economy, analysts say
WASHINGTON – Airlines canceled thousands of flights and stranded travelers. Insurers braced for damages of up to $5 billion. Retailers expected shrunken sales.
Hurricane Sandy is causing disruptions for companies, travelers and consumers. But for the overall economy, damage from the storm will likely be limited. And any economic growth lost to the storm in the short run will likely be restored once reconstruction begins, analysts say.
Preliminary estimates are that damage will range between $10 billion and $20 billion. That could top last year's Hurricane Irene, which cost $15.8 billion.
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