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The devastation wrought by Hurricane Ian likely caused more than $50 billion in damages — and also dinged overall US economic output, economists say.
Initial damages from the deadly storm are estimated to be in the range of $45 billion to $55 billion in Florida and at least several billion dollars in South Carolina, according to Laura Ratz, an economist with Moody’s Analytics.
“So far, it looks like Hurricane Ian is on track to rank among the more costly natural disasters of recent years,” Ratz wrote in a note late last week.
