St Jude unlikely to have a significant impact on UK economy

After strong winds battered the UK today, causing nationwide damage, as well as disruption to transport networks across the City, Howard Archer of IHS Global Insight suggests that the impacts won't be long lasting for the UK economy.

Archer says that he doesn't think the storm "will have a significant impact on the economy" as "it is not, for example, like heavy snowfall where there may be a sustained disruption to travel and supply chains."

The storm was very brief and that it was forecast ahead of time helped to limit damage, as well as allowing many to make preparations to work from home. Insurers are also unlikely to take a hit as the warning "gave people time to try and protect their property which will help limit the hit to insurers.

Now Archer believes that given the short span of the storm, it should be "relatively easy" to make up any loss of output or retail sales.