Economic Data Confirms Hurricane Sandy Was Worse Than We Thought

Economic Data Confirms Hurricane Sandy Was Worse Than We Thought

from Clusterstock by Sam Ro

We got a bunch of economic data this week, and most of it was much worse than expected.
Why?
At this point, it seems that economists had underestimated the negative economic impact of Hurricane Sandy.
The data was so bad that Morgan Stanley's Vincent Reinhart was forced to reduced the firm's Q4 GDP tracking estimate to +0.6% from +0.8%.http://www.businessinsider.com/hurricane-sandy-worse-than-we-thought-2012-11?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29