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Hurricane Irene damages less than expected

08-29-2011 12:11 BJT

Tropical Storm Irene's trek up the East Coast caused less damage than many had feared, a bit of reassuring news for the fragile US economy.

While a lot of people are surprised at the intensity of the wind and the duration of the storm, analysis of the hurricane damage is already underway.

It's estimated that insured damages from the storm will likely range between two billion and three billion U.S. dollars. Total losses will likely be about seven billion dollars.Both figures are lower than had been expected, suggesting that the storm poses little threat to the world's largest economy.

Some economists say as with past hurricanes and earthquakes, the recovery could end up boosting growth in the coming months.

A man crosses 42nd Street in New York City's Times Square on Sunday as Irene hits the city. By Timothy A. Clary, AFP/Getty Images

 

Residents look at floodwater from their doorstep on Coney Island after Hurricane Irene hit, in New York, Aug. 28, 2011. (Emmanuel Dunand/AFP/Getty Images)

 

Hurricane Irene has been downgraded to a tropical storm, and has moved from New York into New England, bringing strong winds and heavy rain to much of Connecticut.

 

Hurricane Irene has been downgraded to a tropical storm, and has moved from New York into New England, bringing strong winds and heavy rain to much of Connecticut.

 

The New York Stock Exchange is shown early Sunday, Aug. 28, 2011, in New York. Hurricane Irene bore down on a dark and quiet New York early Sunday, bringing winds and rapidly rising seawater that threatened parts of the city. The rumble of the subway system was silenced for the first time in years, the city all but shut down for the strongest tropical lashing since the 1980s. (AP Photo/Mary Altaffer)

 

Editor:Li Wanran |Source: CNTV.CN

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