How did Hurricane Katrina affect the economy?

Answer 1

This is a very big question, touching a lot of different areas of business and economics. I will answer only the part that deals with my area of expertise - agriculture. First, Katrina did a lot of damage to that portion of Louisiana's sugarcane crop that is grown in the area south of New Orleans. Fortunately, that's a small percentage of the crop. (But Rita, a month later, hit southwestern LA, and did some serious damage.) Furthermore, areas that were flooded with saltwater will have issues in the future. Too much salt in the soil is not good for crops. Again, fortunately, not many acres of crops are grown in that area. As Katrina continued to move inland, it weakened, but still had some strong winds and heavy rainfall. Crops in the Mississippi delta sustained some damage, particularly cotton. By the time Katrina passed through Mississippi, it was merely a tropical depression, no longer worthy of a name, but was still referred to as "the remnants of Katrina". Winds were not seriously strong, and crop damage was minimal. But, the heavy rains were still present, and actually BENEFITTED crops in the Midwest. Livestock in the affected area suffered. Many drowned in the flooding. Others got free of their pens and wandered off, eventually dying due to lack of care. I saw one picture of a dead cow in the fork of a tree 12 ft off the ground. Meanwhile, the port of New Orleans was closed for a long time. This closure extended past the beginning of harvest season in the Midwest and Great Plains. The Mississippi River is the usual transportation route for much of the grain grown in that area, but this was not an option, with the port closed. Farmers had to find other ways to ship their grain. Or store it until it could be shipped.

Answer 2

In New Orleans it left thousands of people unemployed It boosted oil prices now one of the poorest regions It could cost one billion dollars making it the most cosly hurricane ever to hit the u.s. S

Answer 3

Bahamas, South Florida, Cuba, Louisiana (especially Greater New Orleans), Mississippi, Alabama, Florida Panhandle, most of eastern North America

total property damage was estimated at $81 billion (2005 USD)

Answer 4

it effected the us economy because we lost all trade systems down the Mississippi river at that point making no way to connect to the gulf

Answer 5

Katrina made landfalls in the states of Florida, Louisiana, and Mississippi with damaging effects from flooding and tornadoes in several other states.