Federal agency's loss estimate for Sandy is below states' figures

02/3/2013 | Business Insurance (tiered subscription model)

Damage from Hurricane Sandy and its remnants amounted to $35.8 billion in private fixed assets and $8.6 billion in government fixed assets, the Bureau of Economic Analysis says. The figures are lower than the $82 billion estimated by governors of Connecticut, New Jersey and New York. The federal agency's loss estimate, however, accounts only for the storm's direct impact on economic activity, excluding some physical damage that is not considered in calculating gross domestic product.

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