AccuWeather predicts Hurricane Harvey to be more costly than Katrina, Sandy combined

AccuWeather predicts Hurricane Harvey, which has wreaked havoc in Texas, to be the most costly weather disaster in United States history.

Dr. Joel N. Myers, founder, president and chairman of AccuWeather said that "the disaster continues and the extent of human suffering will only increase as floodwaters and lack of electricity and basic services puts Houston into third world-like conditions for days or weeks to come."

Adding to the misery, AccuWeather RealFeel® Temperatures will climb between 100 and 105 degrees Fahrenheit the next few days, Myers explained. Standing water may lead to disease, hazardous mold and other concerns like outbreaks of mosquitoes.

Myers, sometimes called the “father of commercial meteorology,” predicted on Wednesday, Aug. 30 that "the total losses from this storm would reach $190 billion or one percent of the nation's gross domestic product (GDP), countering the expected growth in the economy for the rest of this year."

"This is the costliest and worst natural disaster in American history," Myers said.

This will impact every American and will counter GDP growth, while it will likely force the Federal Reserve to postpone any interest rate changes for the remainder of the year. The economic growth that had been predicted for the rest of this year will at least be cut in half as a result of the devastation from Hurricane Harvey, according to AccuWeather.

The economic toll will be felt across the country for the rest of the year. Effects of the storm will ripple across the country, impacting everything from food and gas prices to shipping costs, jobs and more.

“The meteorologist forecasting community as a whole did a very good job in warning people about this storm. Public officials were slow, in some cases, to react or to know what to do, which affected too many people and caused the loss of property and damage and destruction. This was unfortunate because when a natural disaster threatens, minutes and hours count and preparation and risk avoidance is imperative. While AccuWeather forecasts were a few hours ahead of the competition in alerting people and companies to the severity of the impacts that were coming. The entire meteorological community did a first-rate job, and it’s frustrating that some entities were slow to take action. We are gratified that many people told us because of AccuWeather forecasts they did get to safety and out of harm’s way, and many businesses we serve reported they took immediate action to minimize losses,” Myers said.

"People need to understand how bad this really is so America can mobilize faster to truly make a difference and save the lives that are still greatly at risk and have plans in place for better response to storms in the future," Myers said.

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