Hurricane Ian will likely weigh on U.S. economic growth through the end of 2022, economists say. Beyond that, the rebuilding and recovery will nudge up economic output over the coming years.
The hurricane pummeled fast-growing communities along the southwest coast of Florida, causing between $25 billion and $40 billion in insured losses, according to an early estimate by Fitch Ratings. Widespread power outages, closed airports and impassable roads will slow the economy’s reopening. More damage is likely as the storm headed for Georgia and South Carolina on Friday.
