Shasin Hamal's Blog

People do not like any natural disasters.  Recently, in late October, Hurricane Sandy atrociously hit parts of the Caribbean, Mid-Atlantic, and Northeastern United States.  It also hit Southeastern, and Midwestern states and Eastern Canada with a lesser impact. According to IHS Global Insight, a forecasting firm, Hurricane Sandy is estimated to cost $60 billion.

Flooding Caused by Hurricane Sandy in New York City.

New York, the most populous city in the USA as well as one of the biggest business and financial hubs in the world, will slow down in the short term but should not be affected much in the long run.  For example, restaurants and stores will draw in fewer customers.  Due to poor road conditions, the demand for oil will lessen too, which in turn will lower the average national gas price.  Slow supply chain and operations will also cost businesses extra.  Delayed shipping and travel will slow down process for companies, and operating some parts will have to change than regular days.  Factories will be forced to cut down shifts of workers because of lower customer demand.  There is positive news for some industries though. Construction workers will be in demand to repair damaged houses and buildings.  Although, a costly and harsh hurricane, it’s nowhere close to the devastation that was caused by Katrina.

Article:  Hurricane Sandy Estimated to Cost $60 Billion