November 2001 To January 2002 Period The Warmest Since 1895
Unusual weather across most of the United States last winter created huge and generally positive impacts to the nation's struggling economy. Nationally, an estimated $21 billion in benefits included lower heating costs, a reduction in snow-removal costs, increased construction income, reduced transportation costs, fewer insurance losses and increased retail sales. Most of the $0.5 billion in losses were realized by the tourism industry and by decreases in sales of snow-related equipment and winter clothing.
"The unseasonably warm, dry, and sunny winter weather led to profound effects on the nation's economy at a critical time," said Stanley Changnon, chief emeritus of the Illinois State Water Survey and a professor of geography at the University of Illinois at Urbana-Champaign. "Several economists reported that the weather was a major factor in keeping the United States from falling into a major recession."