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real GDP growth was instantly downgraded by 0.5 percentage points for 2001 and 1.2 percentage points for 2002. Some firms experienced an increase in demand such as security and information technology. Due to good economic crisis management short-term adverse economic impact of the attacks was far less than feared initially
Mid term impacts.
Due to the possibility of another attack, five main areas have felt significant impact. Insurance , Airlines, industries linked with travel eg tourism, shipping and increased defense/security expenditures.
Losses from the terrorist attacks for the insurance industry are estimated at between $30 and $58 billion...
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