Hurricane Harvey’s destruction is on track to come in at $190 billion, which is equivalent to 1% of the US gross domestic product, AccuWeather, a weather forecasting firm, said.
According to president of AccuWeather Joel Myers, Hurricane Harvey is likely to be the most expensive weather disaster in US history.
The damage from the storm is not over yet: floodwaters and lack of electricity and basic services puts Houston into third world-like conditions. The total losses from Harvey would reach $190 billion or 1% of the nation's GDP, weighing on the US growth for the rest of the year.
In case the prediction is correct, Harvey’s destruction will top the price of damage inflicted during Hurricane Katrina and all other major natural disasters that took place in the United States.
The recovery in areas affected by the storm could drag on for a long time. Thus, in 2015 media reported that New Orleans’ recovery was not complete 10 years after Katrina.
