Economic Effects Of Hurricane Sandy Essay
Economics Effects of Superstorm Sandy
Shannon Heyman
LIM College
Abstract
This report examines the immediate and continuing economic effects of hurricane Sandy that struck the North Eastern Region of the United States of America, specifically New York, and New Jersey in late October of 2012. Several articles from national and regional news agencies were used to compile the facts pertaining to the economic conditions of the region as well as the implications on the national economy. Studies indicate that the economic effects of hurricane Sandy has caused loses totaling over $50 billion dollars however, there is evidence shown by some studies to be a large amount of positive economic growth and activity that has been generated from the destruction of the storm. This report will analyze the economic trends on a regional as well as national scale and then determine if the damaged caused has provided enough stimulus to out-weigh the negative …show more content…
The storm destroyed countless homes, cars, roads, bridges, business and other items of value that totaled the damage of the storm well over $50 billion dollars (Walsh, 2012). This damage then translates to spending by the citizens of the United States, which in turn will foster economic growth and expansion that ultimately improves upon the state of the economy before the storm struck. This however turned out not to be the case in regards to the continuing effects of Hurricane Sandy. The immediate effects such as a drop in GDP from the North Eastern region was made up within the following months and then proceeded to return to normal (Khimm, 2012). From a macroeconomic view hurricane Sandy seems to be just a small bump in the road however, from a microeconomic view there is a great deal of turmoil concerning rebuilding and returning the
Shannon Heyman
LIM College
Abstract
This report examines the immediate and continuing economic effects of hurricane Sandy that struck the North Eastern Region of the United States of America, specifically New York, and New Jersey in late October of 2012. Several articles from national and regional news agencies were used to compile the facts pertaining to the economic conditions of the region as well as the implications on the national economy. Studies indicate that the economic effects of hurricane Sandy has caused loses totaling over $50 billion dollars however, there is evidence shown by some studies to be a large amount of positive economic growth and activity that has been generated from the destruction of the storm. This report will analyze the economic trends on a regional as well as national scale and then determine if the damaged caused has provided enough stimulus to out-weigh the negative …show more content…
The storm destroyed countless homes, cars, roads, bridges, business and other items of value that totaled the damage of the storm well over $50 billion dollars (Walsh, 2012). This damage then translates to spending by the citizens of the United States, which in turn will foster economic growth and expansion that ultimately improves upon the state of the economy before the storm struck. This however turned out not to be the case in regards to the continuing effects of Hurricane Sandy. The immediate effects such as a drop in GDP from the North Eastern region was made up within the following months and then proceeded to return to normal (Khimm, 2012). From a macroeconomic view hurricane Sandy seems to be just a small bump in the road however, from a microeconomic view there is a great deal of turmoil concerning rebuilding and returning the