Home Economy Ida’s blow to US economy expected to be modest, economists say

Ida’s blow to US economy expected to be modest, economists say

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A collapsed historical building is seen on S. Rampart St. in New Orleans, La., early Monday, Aug. 30, 2021. (Max Becherer/The Advocate via AP)

WASHINGTON (AP) — Hurricane Ida is sure to take a toll on the energy, chemical and shipping industries that have major hubs along the Gulf Coast, but the impact on the overall U.S. economy should be modest so long as damage estimates don’t rise sharply and refinery shutdowns are not prolonged, economists suggested.

Ida, which made landfall Sunday, is tied it for the fifth-strongest hurricane to ever hit the mainland. More than a million customers in Louisiana and Mississippi were without power Monday according to PowerOutage.US, which tracks outages nationwide.

Oil prices weren’t showing a…

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