• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 2 hours Joe Biden's Presidency
  • 2 hours So Is COVID a Media Hoax or Not?
  • 1 hour Navalny Poisoning Weakens Russo German Relations
  • 4 hours Biden suspends oil and gas drilling on Federal Lands for 60 days for review.
  • 1 hour GENERAL NORMAN SCHWARZKOPF: The Third Tour
  • 4 hours Parler’s New Partner Has Ties to the Russian Government
  • 2 hours The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 6 hours a In 2020, we produced and delivered half a million cars.
  • 6 hours CIA Death Squads
  • 9 hours An exciting development in EV Aviation: Volocopter
  • 12 hours Rejoining Paris Climate Accord is Devestating
  • 9 hours Did I Miss Something?
  • 10 hours The Debate Starts : Remake Republican Party vs. Third Party

How has Hurricane Sandy Affected the Economy in the Short Term?

The economic data has already shown some impact from Hurricane Sandy, and we will see more over the next couple of months. As an example, auto sales were down in the Northeast at the end of October, home listings were down in New York and New Jersey in early November, and this morning the MBA reported mortgage applications were down sharply in those states.

Goldman Sachs analysts Sven Jari Stehn and Shuyan Wu tried to quantify the short term impact: The Effect of Hurricane Sandy on Near-Term Economic Activity

1. Employment dips and rebounds ... Both nonfarm payrolls and household employment typically fall one month after landfall and then rebound in the following two months. Our estimates suggest that the hit of Hurricane Sandy on November employment might be around 20,000 with a rebound in December and January. ...

Click here to read the full article.



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News