Business impact due to heatwave in US likely to reduce quarterly GDP: Report

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- Heatwave death rate also feared to rise : Analyst

- CNN estimates $100 billion in unprecedented business losses from this heatwave

Washington: Heat wave has returned in America. The heatwave is also spreading around the world, but the US has been affected much more. A heat wave is wreaking havoc on US business.

Giving this information, CNN's report states that according to Moody's Analytics Director Chris Lekakilus, this heat wave will not only damage business but the death rate is also feared to increase a lot.

The report further states that the global heat wave has returned. Due to this unusual heatwave, the world's gross domestic product (GDP) will fall by 17.5% during this three-month period (April-May-June) from 17.6%.

According to Keshi Bodhman, director of the Adrienne Ersht Rockefever Foundation Research Center, the production is likely to decline by 17.6% in the second quarter of this year due to the abnormal heat.

Keshi further said that agriculture and construction sector will see the biggest decline. Along with that, all industries will also decrease. The reason for this is that due to excessive heat, the working power of the workers is greatly reduced.

Analysts say this heatwave is spreading so fast that it is defying all our assumptions and calculations.

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