Cold Weather Cooling U.S. , European Economies

Cold & Snow during the climate summit in Copenhagen didn't discourage the climate crusaders from preaching the virtues of cold temperatures, so the latest rounds of blizzards in both Europe and North America will likely not discourage them either.

But could it discourage economic activity? It certainly will. When snow and cold gets as bad as now, not only shopping but almost all economic activities performed outdoors or requiring travel will be disrupted. If (as seems likely) the snowing ends before Christmas Eve and if snow removers do their job, the damage to retailers will be limited, but not eliminated. And for many other economic activities, the disruption will not be recouped. So while utilities and snow removers may boom, the overall economy will suffer because of the unusually cold and snowy weather. It remains to be seen however just how big and lasting this negative effect will be.