Damage from Hurricane Irene Appears Less than Feared

Tropical Storm Irene's trek up the East Coast caused less damage than many had feared, a bit of reassuring news for a fragile economy.

By Christopher S. Rugaber, Daniel Wagner | Updated on August 29, 2011

WASHINGTON (AP) — Tropical Storm Irene’s trek up the East Coast caused less damage than many had feared, a bit of reassuring news for a fragile economy.

Insured damages from the storm will likely range between $2 billion and $3 billion, and total losses will likely be about $7 billion, according to preliminary estimates from Kinetic Analysis Corp., a consulting firm.

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