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This winter has been a grueling one. Two blizzards and two major snow storms have helped push Boston within two inches of the snowiest winter on record.
The snow-clogged streets and the halting transit system are a psychological hit to be sure, but also a hit to many wallets.
Economists are trying to size up just how big that hit is, with some estimates upwards of $1 billion, that's for the drop-off in consumer spending, missed days at work, and transportation delays.
- "Much of the nearly nine feet of snow that has already fallen on Boston is still piled up, disrupting traffic and commerce. But it might surprise you that the record storms are not expected to contract the economy as much as the severe cold did a year ago."
- "The average small business sales losses across the state were 24%; but the retail and restaurant numbers were far higher, at 49%. The reductions in payroll costs were only 7% for all businesses, and 14% for retail and restaurant."
This segment aired on March 6, 2015.