Harvey may be among the world's costliest catastrophes

Its full economic impact is still unclear

Friendswood  : Neighbors use their personal boats to rescue Friendswood, Texas residents stranded by flooding Sunday, Photo: AP/PTI
Friendswood : Neighbors use their personal boats to rescue Friendswood, Texas residents stranded by flooding Sunday, Photo: AP/PTI
Business Standard
Last Updated : Aug 30 2017 | 2:09 AM IST
With Hurricane Harvey continuing to wreak havoc in Texas, its full economic impact is still unclear. Current estimates range from $30 billion to $100 billion, either of which would make the hurricane among the world’s most costly catastrophes since at least 1970. Chuck Watson of Enki Research on Tuesday lifted his projection for economic losses to $42 billion, up about $12 billion from Monday.

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