Gross domestic product in the region between New York and Washington amounts to some $2.5 trillion, so that every day the region's economy grinds to a halt amounts to about $10 billion in foregone output.
Mark Zandi, Chief Economist, Moody Analytics
Posted on 10/30/2012
"Peter Morici at the University of Maryland estimates that Sandy will cause about $35 billion to $45 billion in losses and damages but then be followed by as much as $36 billion in recovery spending."
"Data releases in coming weeks will be even harder than usual to forecast. For instance, the impact of Sandy is likely to skew figures on weekly jobless benefit applications and chain store sales."
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