SNOW BLOWING THE ECONOMY?
|The Blizzard of 2011 will definitely have an economic impact. But it will likely be uneven.|
|That's the word from two of Atlanta's top economic prognosticators. GSU's Dr. Rajeev Dhawan (pictured) says most businesses will only experience a delay in sales. Snow and ice blanketed the metro area in amounts not seen in decades, forcing businesses, schools, and retailers to close. But most businesses will make up the lost salesand productivity. ?The issue is how quickly,? Rajeev says. Commissioned people may have to wait until next quarter to make it up. Other businesses will actually benefit. Many grocery stores, for example, had runs on milk, bread, and other staples. And even specialty product stores. ?People who sell generators probably sold more now than they would have,? Rajeev says. But the flip-side exists: Those stores that were barely surviving prior to the snowstorm, ?this might push them over the edge.?|
|But businesses that survive based on walk-in traffic, especially restaurants, will likely suffer from Snowmageddon '11. "If you're a restaurant owner or you're providing services for a convention, you don't make it up," Rajeev says. Mercer University's Dr. Roger Tutterow adds that up until the snowstorm, the economy had beenrecovering, although with no significant job growth. "I don't think missing two to four days will sideline the recovery."|