The Economic Cost of Hurricane Florence Could Reach 50 Billion Dollars: Report

Hurricane Florence caused between $ 38 billion and $ 50 billion in damage and economic losses after heavy rains and floods in the Carolinas, according to a report released Friday.

The high estimate of $ 50 billion would make Florence the seventh most expensive storm in Hurricane Andrew, according to Moody Analytics data cited by the Wall Street Journal.

Florence should cost less than the three hurricanes of last year. Moody estimated that Harvey's damage had reached $ 133.5 billion, the paper said. Maria cost $ 120 billion and the total for Irma was $ 84.2 billion. Storm cost estimates include damage to homes and vehicles, as well as loss of economic output.

Moody's previously estimated that Florence could cost between $ 17 and $ 22 billion.

Florence has wreaked havoc in the Carolinas and Virginia since it touched down on September 14th. Authorities said 41 people died because of the storm and thousands more were still without electricity or unable to return home.