Sandy brings economic booms, busts to Northeast
The Red Hook section of Brooklyn became part of New York Harbor when the storm surge pushed sea water into the streets. Some streets were beneath 5 feet of water.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 12/06/2012
FAIRFIELD, Conn. (AP) -- The aftermath of Superstorm Sandy is bringing a banner year for people in some industries in the Northeast while pushing others toward economic ruin.
The late October storm has triggered spikes in demand for construction work, industrial cleaning, hotel rooms, cars and even Christmas trees.
But the storm also caused a crash in consumer demand. The U.S. government estimates the storm cut wages and salaries by $18.2 billion at an annual rate. The hardest-hit sectors include retailers, gas stations and casinos.
The booms and busts are evident along a beach road in Fairfield, Conn., where landscaping crews are busy at work yet restaurants are struggling to come back.
The storm is so far blamed for about $62 billion in damage and other losses in the U.S.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PRINT
| |
Special Reports
-
SPECIAL REPORT | Day care inspections
SPECIAL REPORT | Thousands of child care center inspections reports are NOW AVAILABLE. Find out what inspectors founds inside day care centers across the state.
-
Inside a Criminal Mind | Jason Scott
SPECIAL REPORT | When it's out of your hands, when your life is at the mercy of an armed, masked man staring down at you from the barrel of a gun in your own home, you grasp at whatever it is you can control; breathing, composure, or faith.
-
SPECIAL REPORT | Bad Medicine
SPECIAL REPORT | ABC2 Investigator Joce Sterman has reviewed thousands of pages of documents for her Bad Medicine report.
Top Stories
-
Firefighter hurt in Wegmans fire
A firefighter was hurt in a kitchen fire at the Wegmans store in Abingdon Sunday.
-
JCPenney slaps new high prices on goods
-
$20 a month smartphone: Can it be real?
-
Students run to stay fit
-
Volunteers read to children
-
United to restart 787 flights on Monday
- Stay Connected
