Though the demand in some industries might be up, there are few positive impacts from the devastation caused by Hurricane Katrina. Locally, the economies of Louisiana and Mississippi have been devastated. Businesses from all sectors are decimated, while tourism, mainly supported by New Orleans and the Gulf Coast area, will be nonexistent for months to come.
Well beyond the borders of Louisiana and Mississippi, industries are struggling with increased costs and supplier shortages related to the price of oil. Places as far away as Hawaii are feeling the hurricane's impact, as its construction industry struggles with rising materials costs, such as the cost of cement. And though the manufacturing industry as a whole reports increased demand for anything from "wallboard to washing machines," it too faces similar challenges as it struggles with the increased cost of production and supplies.
Clearly, the impact to business and the overall economy is far reaching. What industry are you in, and how has your business been affected?
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