What Are the Economic Impacts of a Frigid Winter?

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Feb. 5 (Bloomberg) -- Bloomberg Meteorologist Bonnie Schneider discusses this winter's weather on Bloomberg Television's "Bloomberg Surveillance. (Source: Bloomberg)

Was forced to come on today with the ugly weather.

You mentioned the airlines earlier.

This is just the worst winter, isn't it?

It is.

I was checking snowfalls for new work and central park -- en newark and central park.

This is already a rough start.

Three storms in this week alone.

The airlines impacted -- over 50,000 flights canceled in january.

A record winter?

Can we say that?

Yes.

We have already shattered so many records.

When you go to the snow belt -- are they having a record winter?

Not only are they having a record winter, but remember the polar vortex?

We call it the polar paid.

-- pig.

Do like how she says that -- polar vortex?

It sounds very meteorological.

We are talking temperatures 20 below zero in the midwest.

That impacts business in a huge way.

Frankly, it has snowed in cairo this year.

So who knows?

Why hasn't snowed in cairo?

-- has it snowed in cairo?

There is always know in strange places.

Let's move to the weekend.

All of us, nationwide, are affected by the travel this weekend.

The interesting thing about this weekend is that some of the media releases have shown that we have seen different commuter -- computer models saying we have seen 20 inches of snow or three inches of snow.

We really cannot get that accurate several days in advance.

We have to keep watching it and seeing the trends.

It is a close call.

It depends where the snow develops.

We are still in the heart of winter and still way above average for snow.

One of the problems we have is that the u.s. has not invested as much in its weather computers as other nations.

We are trying to catch up now.

After the hurricanes, after sandy, that spurts of medivation, but we are still in catch-up mode.

Also quite a bit of cutbacks in government spending when it comes to weather forecasting.

We do need to have investment for that so we can get the latest information, satellite data and radar, and make the best predictions.

I have a very important question.

The danger of this black ice.

Dangerous for cars and kids and old people -- how accurate are you in estimating where the black ice is?

One of the unique features we use to estimate these ice totals is to get reports from real-time people who are on the scene.

19th-century?

It is pretty accurate.

A quarter inch of ice to a half-inch of ice.

We are likely to see many power outages as the ice cover the trees and we will probably see that going into today and tonight.

What kind of economic impact?

We have seen it in the airline industry.

General motors, on automotive sales.

One of the problems they faced was the cold weather in january.

People were not going out to shop for cars is much.

February is like january, we could see similar conditions.

Thank you so much.

With us all day on bloomberg television and bloomberg radio.

The weather just won't go away.

It is more than early february.

Markets are not at the moment.

U.s. investors are sitting on the hands, probably rating for that adp report.

Not much movement in futures or bonds at the moment to read you cannot say there was a lot of movement in currency.

This text has been automatically generated. It may not be 100% accurate.

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