Finance expert discusses far-reaching ripple effects from Hurricane Ian


WICHITA, Kan. (KWCH) – Whereas the nation’s focus is on Florida and efforts to assist tens of millions immediately impacted by Hurricane Ian, the results aren’t confined inside the storm’s path. Florida is a big contributor to the U.S. economic system. The Sunshine State has the fourth highest home gross home product (GDP) within the U.S. and in that class, ranks sixteenth on this planet. With a robust power of nature like Hurricane Ian, the results could possibly be felt throughout the nation.

In Wichita, Mates College Finance Professor Jim Lengthy is finding out Ian’s results on the economic system and the provision chain. One seemingly influence is a leap in orange juice costs.

“We consider Florida, we consider citrus timber. Actually, the winds will knock down the oranges. Costs will spike,” Lengthy stated.

Florida’s economic system is various with the hurricane additionally probably impacting costs on an array of things from lumber to electronics. It might additionally probably influence airplane producers.

“It slows down every part downstream by these firms to the individuals they provide, as properly,” Lengthy stated.

He estimates Ian might have an effect on costs throughout the nation for about 9 weeks. It’s not really easy as simply flipping a change.

“It’s virtually being like in a site visitors jam at that time. You sit for a sure period of time, on this case 9 weeks, automobiles begin shifting (however) you don’t begin shifting. It depends upon how far again you’re within the chain,” Lengthy defined.

Business consultants don’t predict a lot of a change with fuel costs, as Florida is just not a big oil manufacturing state like Louisiana or Texas, each out of Ian’s method.

Source link

Related articles

Related Posts