While frosty weather in 2014 and 2015 led to sluggish economic growth to begin the year, this week's snow threat should not cause the same problem. Wall Street Journal staffer Eric Morath reports on how this threat shouldn't effect the economy as much due to it occurring over a weekend.
Morath spoke with Moody's Analytics economist Ryan Sweet who explained that the snow will disrupt lives but due to it occurring over the weekend, the amount of lost output will be minimized:
The region expected to be affected by the storm produces about $16 billion in a daily economic output. But since many businesses and the federal government are, for the most part, already closed on the weekends, the storm shouldn’t result in a dramatic increase in lost wages or consumption tied to workers’ daily routines.