Hurricane Hardship

Uninsured losses from Hurricane Ian probably total $40-$50 billion including infrastructure damage and cleanup costs. Insured losses are another $65 billion. Lost wages and corporate profits due to closed airports and destroyed facilities probably add another $15-$20 billion in Florida with minimal losses elsewhere. As GDP ignores wealth losses, it will knock 22H2 FL GDP by 4%, national 22H2 GDP by 0.2%. But the recovery will boost GDP in 2023.