Moody’s Pegs Florence’s Economic Cost at $38 Billion to $50 Billion

By  Leslie Scism and  Erin Ailworth

Sept. 21, 2018 | The Wall Street Journal

Impact of storm isn’t over as rivers in Carolinas continue to rise

After a week of heavy rains and record flooding, initial estimates for the damage that Florence wrought on the Carolinas rank the storm among history’s top hurricanes, but far below last year’s trio of powerful cyclones.

Moody’s Analytics on Friday estimated the economic cost of Florence to be between $38 billion and $50 billion including damage to property, vehicle losses, and lost output. At the upper end of that range, Florence would rank seventh among the biggest storms, just after Hurricane Andrew in 1992, according to Moody’s estimates. Read the full article.

 

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