Hurricane Sandy Reduces Retail Sales by About $4 Billion
Hurricane Sandy reduced U.S. retail sales in the northeast by about $4 billion last week, according to MasterCard Advisors SpendingPulse.
Retail sales, excluding automobiles, in the area affected by the storm were about $15 billion for the week ending Nov. 3, Michael McNamara, vice president of research, said in a telephone interview. The sales fell short of the researcher’s estimate of about $19 billion, he said.
Sandy struck the U.S. on Oct. 29, leaving millions to grapple with disruptions from power failures, flooding and a crippled transit system, including New York City’s flooded subways.
MasterCard Inc.’s SpendingPulse tracks purchases in all payment forms.
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