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Last updated on Thursday, January 23, 2014
(UNDATED) - An Indiana economist says this winter is having a big economic impact.
However, University of Indianapolis' Dr. Matt Will says calculating the losses for the entire American economy would be a huge undertaking.
Will says there are pluses and minuses. He says snow removal costs are pinching cities and retailers will likely see the effects with fewer consumers going out shopping.
However, Will says retailers will eventually see an uptick in spending as consumers eventually venture out.
Will says many cities are probably seeing a drop in crime and lower demand on certain services given lack of outdoor activity.
Ultimately, Will says winter in Indiana isn't the same long term issue as it is in places like Scandinavia which has long term coping strategies.
Will says as winter literally plows on, more companies and schools are employing strategies to meet attendance and production goals.
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