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Blizzard Bombs Philly Economy

By PW Staff

Add Comment | Comments: 0 | Posted Feb. 12, 2010

Philadelphia Business Journal reports the past week's blizzards could have a big impact on the city's economy. "Stephen P. Mullin, senior vice president and principal at Econsult Corp. in Philadelphia, said retailers and government are feeling the crunch from the heavy weather, which dropped some four feet of snow on the region in five days. “Retailers [are] getting clobbered, but some rebound when the weather clears will mitigate a downside. Of course, if people decide to shop online to stave off going crazy being cooped up, then money will flow out of our economy,” Mullin said. “Lunch [spots] and other places that rely on commuters and work people traffic are hit hard too, without the mitigating rebound.” With many office workers telecommuting midweek, production drops may have been mitigated, he said. “Overall, I would see the net impact as being a moderate negative, slimming to a minor negative when all of the revisions are made,” Mullin said."