Deep freeze may have cost economy about $5 billion - KTTC Rochester, Austin, Mason City News, Weather and Sports

Deep freeze may have cost economy about $5 billion

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MINNEAPOLIS (AP) -- Hunkering down at home rather than going to work, canceling thousands of flights, and repairing burst pipes from the Midwest to the Southeast has its price.

One estimate from business weather intelligence company Planalytics puts the cost of the polar vortex that gripped much of the country during the past week at $5 billion.

But experts say those impacts aren't as bad as they sound when compared against the overall economy. Planalytics' Evan Gold notes $5 billion pales in comparison with an annual gross domestic product of about $15 trillion. It works out to maybe one-seventh to one-eighth of one day's production for the entire country.

And just to balance things out, Gold says, there were bottom lines that benefited during the dip into the deep freeze-- including those of on-demand cable TV and restaurant delivery services.

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