Gov. Dannel P. Malloy told the Associated Press that widespread damage to private and public property from Hurricane Sandy costs Connecticut $360 million dollars. The total cost of the damage keeps rising, he said.
Some estimates put the total cost of the damage from the Oct. 29 storm in the United States at $50 billion. Connecticut fared better than New Jersey and New York, but high winds, toppled wires and flooding still plagued the state. At one point Connecticut had 620,000 outages.
“We didn’t experience a catastrophic long-term hit to our economy,” Malloy told the Associated Press. “I think the storm for us was a series of personal tragedies playing out in families, but its overall impact on the economy is, I think, manageable.”
The ratings company Moody’s had a similar prognosis for the municipalities hit by the storm. According to a report released by the company, there could be some short-term budgetary problems but the federal government is expected to pick up the tab for most of the damage.
