Extreme cold could cost metro area economy $10 million a day

Extreme cold could cost metro area economy $10 million a day

The Washington region has a consumer-driven economy, and with the record-setting cold, consumers have not been the mood to shop for cars or much of anything else except snow shovels and snow boots.

The current cold snap could cost the Washington area economy as much as $10 million a day, business weather intelligence firm Planalytics told WTOP. Not only do area residents not feel like venturing outside to buy anything, but a greater portion of their income will be needed for home heating and perhaps for repair of frozen or burst pipes.

We had a similarly harsh winter last year, though to a lesser extent. But auto sales rebounded nicely in the spring and summer.

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