Superstorm cost could hit $30bn

Sandy will end up causing about $20 billion (€15.4 billion) in property damage and $10 billion to $30 billion (€7.7 billion to €23.1 billion) more in lost business, according to IHS Global Insight, a forecasting firm.

In the long run, the devastation the storm inflicted on New York City and other parts of the Northeast will barely scratch the US economy. That’s the view of economists who say a slightly slower economy in coming weeks will likely be matched by reconstruction and repairs that will contribute to growth over time.