As noted yesteday, the Mid-Atlantic blizzard is likely to impact jobs reports, but the weather isn’t likely to have as large an impact on gross domestic product this quarter, which forecasting firm Macroeconomic Advisers estimates is running 3.1% at an annualized rate after 5.7% growth in the fourth quarter.
Some industries are even benefiting from a “snowstorm stimulus” of sorts. Hotels are jammed with travelers. Supermarket shelves were cleared ahead of the storm as households stocked their pantries and purchased batteries.
At Barbour Inc., a maker of heavy-duty jackets and sportswear based in Milford, N.H., “we could be doing even better right now if we had more inventory available,” says Tom Hooven, the company’s general manager. But high demand means the company hasn’t had to discount its winter gear as much, so profit margins are fatter.
The blizzard is proving a boon to some industries and a stumbling block for others. But it’s a universal headache for those trying to gauge the recovery.