Sandy Seen Boosting U.S. With as Much as $240 Billion Rebuilding (Bloomberg News)

November 22, 2012 – John Cataneo is working his 20 employees overtime and still can’t keep up with demand from customers who need plumbing repaired after superstorm Sandy. He says he’s hired two new workers and may need more. Cataneo’s experience shows how the storm is giving the U.S. Northeast — and the rest of the country — an economic boost that may eventually surpass the loss of business it caused. Reconstruction and related purchases and hiring may range from $140 billion to $240 billion and increase U.S. economic growth by 0.5 percentage point next year, assuming $50 billion in losses, according to Economic Outlook Group LLC, a Princeton, New Jersey-based forecasting firm.

Link to Full Article: http://www.bloomberg.com/news/2012-11-23/sandy-seen-boosting-u-s-with-as-much-as-240-billion-rebuilding.html

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