LEXINGTON, MASS. — Estimates of total property losses from Hurricane Andrew have grown. DRI/McGraw-Hill, a consulting firm, now places them at $52 billion in the third quarter.
The country's total real output in the July-September quarter will be reduced from a 1.7 percent annual growth rate without Andrew to 1.5 percent - a not insignificant change, DRI calculates. In that same quarter, the hurricane will also trim profits before taxes by $35.7 billion and personal income by $20.2 billion.