Analysts say financial impacts of winter storm in the billions

Local News

KILLEEN, TEXAS – FEBRUARY 18: Icicles hang off the State Highway 195 sign on February 18, 2021 in Killeen, Texas. Winter storm Uri has brought historic cold weather and power outages to Texas as storms have swept across 26 states with a mix of freezing temperatures and precipitation. (Photo by Joe Raedle/Getty Images)

(Nexstar) – Economic experts with the Perryman Group have assessed the economic impacts of last week’s winter storm and the numbers are significant.  

According to the Perryman Group, between $85.8 billion and $128.7 billion were the projected long-term losses in gross product over time and $56.8 billion to $85.1 billion in lost income.  

“These amounts are in the range of (and potentially above) the losses associated with the most expensive weather events in Texas to date, Hurricanes Harvey and Ike,” the brief reads.  

The storm impacted nearly every sector of the economy including supply chains, consumer spending, manufacturing, oil production, agriculture, and more.  

You can read the full brief from the Perryman Group here.  

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