Economic cost of weather may total $485 billion in U.S.

Routine variations in weather take a toll in specific sectors of the economy:

  • mining economy of 14 percent each year, perhaps because of changing demand for oil, gas, and coal.
  • agriculture ranked second at 12 percent, conceivably because of the many crops that are affected by temperature and precipitation.
  • manufacturing (8 percent);
  • finance, insurance, and retail (8 percent); and
  • utilities (7 percent).

In contrast, wholesale trade (2 percent); retail trade (2 percent); and services (3 percent) were found to be least sensitive