The southern U.S. state of Texas, which is suffering from a record-breaking heat wave, could lose as much as $9.5 billion in economic losses, according to an analysis.
The Wall Street Journal (WSJ), citing research firm Perryman Group, reported that if the heat wave that has gripped the southwestern US for more than a month continues into next month, Texas’ economic growth will be reduced by 0.47%. In monetary terms, the reduction in gross state product (GSP) would amount to $9.5 billion.
In fact, in the month since mid-June, when the heat wave began, the average workweek for small- and medium-sized employers in Texas’ tourism, entertainment, and sports industry has plummeted to 19.6 hours, a 20 percent drop from the previous year, as the heat has led to fewer customers and less work.
The Wall Street Journal reported that Houston is now as deserted as it was in the early days of the pandemic.
The heat is forcing residents to order necessities online and avoid unnecessary socializing, 카지노사이트킴 the Wall Street Journal reported.