Hurricane Harvey to be costliest natural disaster in US history: Report

A recent report has indicated that the Hurricane Harvey is likely to be the most expensive weather disaster in the history of the United States of America.

The report was released on 1 September 2017 Friday by AccuWeather, a US weather forecasting firm.

The total losses from Harvey, which has created havoc in Texas and Louisiana in southeast US, would reach USD 190 billion or one per cent of the nation's Gross Domestic Product (GDP), countering the expected growth in the economy for the remaining months of the year 2017.

Key highlights

• As per the report, the losses due to the hurricane will impact every American and counter GDP growth.

• The hurricane will likely force the Federal Reserve to postpone any interest rate changes for the rest 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.

• The effects of the storm will ripple across the country, impacting everything from food and gas prices to shipping costs and jobs, etc.

• The extent of human suffering as a result of the disaster 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.

• Temperatures will climb between 100 and 105 degrees Fahrenheit in the next few days.

• Standing water may lead to disease, hazardous mold and other concerns like outbreaks of mosquitoes.

About Hurricane Harvey

• Hurricane Harvey was the first major hurricane to make landfall in the United States since Wilma in 2005.

• The disaster broke a record 12-year period with no major hurricanes making landfall in the country.

• In a four-day period, many areas received more than 40 inches of rain as the system meandered over eastern Texas and adjacent waters, causing catastrophic flooding.

• With peak accumulations of 51.88 inches, Harvey is the wettest tropical cyclone on record in the contiguous United States.

• The resulting floods inundated hundreds of thousands of homes, displaced more than 30000 people, and prompted more than 17000 rescues.

• Harvey developed from a tropical wave to the east of the Lesser Antilles, reaching tropical storm status on 17 August 2017.

• The hurricane has caused at least 66 confirmed deaths.