Analysts point out that the phenomenon will cause damage to the US economy and harm the country’s growth.
Hurricane Ian threatens North and South Carolina
At least 21 people died as a result of the hurricane ian at Florida, Kevin Guthrie, director of the State’s Division of Emergency Management, said in a statement this morning. It was the first time that a state official had offered an estimate of casualties. Seventeen migrants remain missing after the boat they were traveling on sank Wednesday near the Keys archipelago. Of the 27 people on board, one was found dead and nine others were rescued, the Coast Guard said. Among them were four Cubans who swam ashore in the Keys. After leaving the state devastated, in the dark and thousands of people trapped along the state’s Gulf coast, the phenomenon hit South Carolina this Friday, 30, and sparked an alert, as meteorologists say Ian could cause severe storms. Authorities in Georgia, South Carolina and North Carolina urged residents to prepare for dangerous conditions.
In the morning, in Charleston County, everyone was forced off the roads and Charleston International Airport was closed because of strong winds. Kelsey Barlow, a spokeswoman for Charleston County, which is home to more than 400,000 residents, said the county has two shelters open and a third on standby. Charleston is particularly at risk. A city-commissioned report released in November 2020 showed that about 90% of all residential properties are vulnerable to flooding. Parts of northeastern South Carolina, near Charleston, can also experience up to 20 centimeters of rain.
Hurricane Ian will cost the economy billions, analysts say. Generating a loss of up to 47 billion dollars and will affect the growth of United States, according to the first estimates. According to expert consultant CoreLogic, wind damage to residential and commercial properties will reach between 22 and 32 billion dollars for insurers, while losses from floods could reach between 6 and 15 billion. “It is the costliest storm to hit Florida since Hurricane Andrew made landfall in 1992. A record number of homes and properties were lost to the intense and destructive characteristics of Hurricane Ian,” CoreLogic said in a statement released Thursday.
These early estimates do not take into account properties that do not have flood insurance. According to data from consultancy Milliman sent to AFP on Friday, only 18.5% of homes in counties under evacuation orders are insured with the public agency responsible for providing this coverage. With the power cuts, flight cancellations and damage to agricultural production, Ian will also significantly disrupt economic activity in the state for at least 10 days. The impact on US GDP should be 0.3 percentage point, estimated Gregory Daco, economist at EY-Parthenon.
*With information from Reuters and AFP
Source: Jovempan
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