Sunday, August 28, 2011

Rebuilding to Lessen Irene's Economic Punch

Early estimates of the direct damage caused by Hurricane Irene are in the range of $7 billion.

Add to those the loss of about one or two days of economic activity spread over a week across 25% of the economy, and an initial estimate of the losses imposed by Irene is about $25 billion to $30 billion.

However, rebuilding after Irene, especially in an economy with high unemployment and underused resources in the construction and building materials industries, will unleash at least $7 billion in new direct private spending.

Read Rebuilding to Lessen Irene's Economic Punch

Original content Bob DeMarco, All American Investor