'Sandy' to cost New York state economy up to $18 billion

Temporary losses to New York state's economy from super storm Sandy could reach $18 billion, State Comptroller Thomas DiNapoli said on Friday.
Disruptions to daily business - from Wall Street in New York City to Main Street shops on Long Island and upstate - could cause between $15 billion and $18 billion in lost economic activity, according to DiNapoli's preliminary estimates.
Not all the damage to the state's economy is expected to be permanent, however, as rebuilding efforts should provide a boost with the sale of materials and increased employment, a DiNapoli spokeswoman said.
Sandy made landfall in neighboring New Jersey on Monday as it barreled across the Eastern part of the continent. It crippled power and transportation systems on the East Coast, and killed at least 102 people in the United States and Canada and at least 69 people in the Caribbean.
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