Hurricane Milton's projected devastation in Florida is expected to have a significant impact on various sectors of the broader US economy. Approximately 3% of America's gross domestic product lies directly in the path of the hurricane, according to Ryan Sweet, chief US economist for Oxford Economics.
The potential effects of Hurricane Milton on the economy are far-reaching, with implications for jobs, travel, manufacturing, retail sales, housing, and more. Sweet estimates that the hurricane could reduce America's fourth-quarter GDP by more than a tenth of a percentage point, a notable figure considering the size of the $29 trillion economy.
