Could hurricane season add to the growing inventory crisis in the US?
Overview Economy. Real GDP growth increased at an annual rate of 3.2%, despite a particularly bad 2017 Atlantic hurricane season.This was due to an increase in consumer spending, private inventory investment, non-residential fixed investment, increased exports, decreased imports, and increased federal government spending.
Hurricane season is from June 1 to Nov. 30. Peak hurricane season is from mid-August through mid-October and the peak date for hurricane season on average is Sept. 10. NOAA will update this year’s outlook in early August, just before peak season.
A Category 4 hurricane is a major concern for businesses that need to keep a count of their inventory and don’t want their suppliers to face any shortages. Storms become more active during the months of August, September and October. It has been estimated that 2018 will witness around 10-16 named storms.
Last year’s intense hurricane season has motivated most Florida residents to prepare for hurricanes that could hit the state this year. have not conducted a home inventory in the event that.
After four years of relative quiet in the US, 2017 was the costliest hurricane season ever and insured losses in 2018 were still double the long-term average, according to Munich Re.With the latest forecasts from the National Oceanic and Atmospheric Administration and colorado state university indicating that "near-normal" activity should be expected during the 2019 Atlantic hurricane.
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Early-Formed Gulf Hurricanes Can Be Devastating. "Audrey was a Category 1 or 2 as it initially moved through the Gulf, and then suddenly gained intensity to a Category 4 hurricane about 125 miles off the coast. Six hours later Audrey made landfall as a Category 4 hurricane, causing catastrophic damages in eastern Texas and western Louisiana.
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Prediction for named storms for all of this year’s hurricane season: Only 12. That’s down from 17 last year, but there could still be devastating storms like those that hit Puerto Rico, Florida.
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To a much milder extent, this has also been the case in the US overall, where the economy has been growing a relatively decent pace, while new vehicles sales have been on decline since 2016. But it pales compared to the situation in Houston.
How the 2017 Hurricane Season is Affecting Our Economy Published October 2, 2017 The recent devastating storms that have hit various parts of the United States have had dramatic and catastrophic human impact.