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    Hurricanes Harvey and Irma caused nearly $ 300 bln damage

    Goldman Sachs: Hurricanes will accelerate economic growth in fourth quarter

    Baku. 12 September. REPORT.AZ/ The damage caused by Harvey hurricane in Texas and Irma in Florida estimated at $ 290 bln.

    Report informs citing the Bloomberg, Dr. Joel N. Myers, AccuWeather founder, president and chairman, said Hurricane Harvey and Irma are the costliest weather disaster in U.S. history.

    Damages will cause disruptions to businesses, Increased unemployment rates for weeks, and possibly months in some places, damage to transportation, infrastructure, increased gasoline, heating oil and jet fuel prices impacting all Americans. Myers noted that the Irma would lose its power on September 14.

    Notably, a while ago, the US Goldman Sachs bank said that hurricanes would have a negative impact on the US economy's third quarter economic growth.The Bank has lowered the US economic growth forecast for the third quarter from 2.8% to 2%.

    At the same time, Goldman Sachs predicts that economic activity that will increase after the start of the recovery process from hurricanes will increase GDP by 0.4 percentage points in the fourth quarter.

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