ADVERTISEMENT
About Our People Legal Stuff
A lineman works to restore power lines near I-95 after the area was flooded by rain from Hurricane Matthew in Lumberton, N.C., Tuesday, Oct. 11, 2016. (AP Photo/Mike Spencer)

It may cost billions more to recover from Hurricane Matthew than originally thought

0
I've never had anything like this in 12 years of business.
Ami Zipperer, Georgia garden supply store owner

The damage wrought by Hurricane Matthew may cost billions more than originally thought.

The storm, which has killed 34 people in the United States and hundreds more in Haiti, may end up totaling $10 billion in damages. Insurance payouts will likely cover only half that amount, according to a Goldman Sachs estimate. 

Port of Savannah takes a hit

The good news? The overall impact on the national economy will be minimal.

But businesses that relied on shipping to the Port of Savannah, one of the nation's busiest container ship ports, may take a hit.

October is when many businesses import their holiday goods.

It may cost billions more to recover from Hurricane Matthew than originally thought

WATCH  | For now, floodwaters remain the most dangerous remnant of Matthew. North Carolina Gov. Pat McCory strongly urged locals to avoid water on Wednesday.

It may cost billions more to recover from Hurricane Matthew than originally thought

WATCH  | Locals seemed to agree the storm was dangerous. Breanna Lawson survived getting caught in it and told CNN the tale.

It may cost billions more to recover from Hurricane Matthew than originally thought

WATCH  | But even after getting out of the water, Lawson said she fears looters.

Samsung is sending fireproof boxes for people to return Galaxy Note7s

WATCH  | For the news you need, check out our 60 Second Circa.

Comments
Read Comments
Comments
ADVERTISEMENT
Facebook Twitter Instagram Pinterest Linked In List Menu Enlarge Gallery Info Menu Close Angle Down Angle Up Angle Left Angle Right Grid Grid Play Align Left Search Youtube Mail Mail Angle Down Bookmark